TMI BlogPunishment for failure to furnish return in relation to foreign income and asset.X X X X Extracts X X X X X X X X Extracts X X X X ..... dia within the meaning of clause (6) of section 6 of the Income-tax Act, who at any time during the previous year, held any asset (including financial interest in any entity) located outside India as a beneficial owner or otherwise, or was a beneficiary of such asset or had income from a source outside India and wilfully fails to furnish in due time the return of income which he is required to fur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he previous year, held any asset (including financial interest in any entity) located outside India as a beneficial owner or otherwise, or was a beneficiary of such asset or had income from a source outside India and wilfully fails to furnish in due time the return of income which he is required to furnish under sub-section (1) of section 139 of that Act, he shall be punishable with rigorous impri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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