Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 Chapter VI TAX COMPLIANCE FOR UNDISCLOSED FOREIGN INCOME AND ASSETS
Contents
Acts
Case Laws New
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Penalty for undisclosed foreign assets: declaration attracts a penalty equal to the tax charged alongside the tax obligation. A statutory penalty attaches to declarations of undisclosed assets located outside India: in addition to tax charged under section 60, the declarant is ... Summary
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Penalty for undisclosed foreign assets: declaration attracts a penalty equal to the tax charged alongside the tax obligation.
A statutory penalty attaches to declarations of undisclosed assets located outside India: in addition to tax charged under section 60, the declarant is liable to penalty at the rate of one hundred percent of such tax, operating notwithstanding the Income-tax Act or any Finance Act.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
