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Exemption from wealth-tax in respect of assets specified in declaration

Section 69 - Acts - TAX COMPLIANCE FOR UNDISCLOSED FOREIGN INCOME AND ASSETS - Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 - Section 69 - 69. (1) Where the undisclosed asset located outside India is represented .....

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assessment year commencing on or before the 1st day of April, 2015; or (b) which have not been shown in the return of net wealth furnished by him for the said assessment year or years; or (c) which have been understated in value in the return of net .....

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sets referred to in clause (a) or clause (b) and such assets shall not be included in his net wealth for the said assessment year or years; (II) the amount by which the value of the assets referred to in clause (c) has been understated in the return .....

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aid assessment year or years. Explanation.-Where a declaration under section 59 is made by a firm, the assets referred to in clause (I) or, as the case may be, the amount referred to in clause (II) shall not be taken into account in computing the net .....

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on 63 are fulfilled by the declarant. Clause 69.-relates to exemption from wealth-tax in respect of assets specified in the declaration. The said clause, inter alia, seeks to provide that where the undisclosed asset located outside India is represent .....

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encing on or before the 1st April, 2015; or which have not been shown or their value has been understated in the return of net wealth for the said assessment year or years, then, notwithstanding anything contained in the Wealth-tax Act, 1957 or any r .....

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