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Punishment for failure to furnish return in relation to foreign income and asset.

Section 49 - Acts - OFFENCES AND PROSECUTIONS - Other Direct Tax / Income Tax - Section 49 - 49. If a person, being a resident other than not ordinarily resident in India within the meaning of clause (6) of section 6 of the Income-tax Act, who at any .....

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urnish 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 imprisonment for a term which shall not be less than six months but which may extend to sev .....

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re the expiry of the assessment year. Clause 49.-relates to punishment for failure to furnish returns in relation to foreign income and asset. This clause seeks to, inter alia, provide that if a person, being a resident other than not ordinarily resi .....

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