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Home Acts & Rules Direct Taxes Acts Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 Chapter VI = TAX COMPLIANCE FOR UNDISCLOSED FOREIGN INCOME AND ASSETS Chapters List This

TAX COMPLIANCE FOR UNDISCLOSED FOREIGN INCOME AND ASSETS - Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015

Chapter: VI
TAX COMPLIANCE FOR UNDISCLOSED FOREIGN INCOME AND ASSETS
Section 59	:	Declaration of undisclosed foreign asset. Clause 59.- provides for declaration of undisclosed foreign asset. This clause seeks to provide that any person may, on or a....
Section 60	:	Charge of tax. Clause 60.- relates to charge of tax. This clause seeks to provide that notwithstanding anything contained in the Income-tax....
Section 61	:	Penalty. Clause 61.- relates to penalty. This clause seeks to provide that notwithstanding anything contained in the Income-tax Act o....
Section 62	:	Manner of declaration. Clause 62. -relates to manner of declaration. This clause seeks to provide that a declaration under clause 59 shall be made ....
Section 63	:	Time for payment of tax. Clause 63.- relates to time for payment of tax. It seeks to provide that the tax payable under clause 60 and penalty payable....
Section 64	:	Undisclosed foreign asset declared not to be included in total income. Clause 64.- provides that the amount of undisclosed investment in an asset located outside India declared in accordance with....
Section 65	:	Undisclosed foreign asset declared not to affect finality of completed assessments. Clause 65. -provides that the declarant shall not be entitled, in respect of undisclosed asset located outside India declare....
Section 66	:	Tax in respect of voluntarily disclosed asset not refundable. Clause 66. -provides that any amount of tax paid under clause 60 or penalty paid under clause 61 in pursuance of a declarati....
Section 67	:	Declaration not admissible in evidence against declarant. Clause 67.- relates to declaration not admissible in evidence against declarant. The said clause seeks to provide that nothi....
Section 68	:	Declaration by misrepresentation of facts to be void Clause 68.- relates to declaration by misrepresentation of facts to be void. The said clause seeks to provide that where a d....
Section 69	:	Exemption from wealth-tax in respect of assets specified in declaration Clause 69.- relates to exemption from wealth-tax in respect of assets specified in the declaration. The said clause, inter a....
Section 70	:	Applicability of certain provisions of Income-tax Act and of Chapter V of Wealth-tax Act. Clause 70. -relates to applicability of certain provisions of Income-tax Act and of Chapter V of Wealth-tax Act. The said cl....
Section 71	:	Chapter not to apply to certain persons. Clause 71.-inter alia, provides that the Chapter VI relating to tax compliance for undisclosed foreign income and assets sha....
Section 72	:	Removal of doubts. Clause 72.- relates to removal of doubts. The said clause seeks to clarify that- (a) except as provided in the Explanation t....

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