Amendment of Act 22 of 2015.- Amendment of section 46.- Amendment of section 55.

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..... 2015. In the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, with effect from the 1st day of April, 2018, Amendment of section 46. ( a ) in section 46, in sub-section ( 4 ), ( i ) in the opening portion, after the words Joint Commissioner, , the words or the Joint Director shall be inserted; ( ii ) in clause ( b ), after the words Dep .....

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..... Sub-section ( 4 ) of the said section, inter alia , provides that an order imposing a penalty shall be made with the approval of the Joint Commissioner in certain circumstances specified therein. It is proposed to amend the said sub-section so as to provide that the Joint Director shall also be vested with the power to approve an order imposing penalty. It is further proposed to amend c .....

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..... uctions, or directions, to the tax authorities referred to in sub-section ( 1 ) as he may think fit for the institution of proceedings. It is proposed to amend the said sub-section so as to empower the Principal Director General or the Director General also to issue such instructions or directions under the said sub-section. These amendments will take effect from 1st April, 2018. - statut .....

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