Second-time offenders under the Black Money Act face rigorous imprisonment three to ten years and fines five lakh to one crore. Second and subsequent convictions under sections 49-53 carry rigorous imprisonment of not less than three years and up to ten years, and a fine of not ... Summary
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
Second-time offenders under the Black Money Act face rigorous imprisonment three to ten years and fines five lakh to one crore.
Second and subsequent convictions under sections 49-53 carry rigorous imprisonment of not less than three years and up to ten years, and a fine of not less than five lakh rupees and up to one crore rupees for each repeat offence relating to undisclosed foreign income and assets.
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