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of <h1>False Statements on Black Money Act Lead to Jail Time and Fines: Up to 7 Years Imprisonment</h1> If an individual makes a false statement in any verification under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, or delivers a false account or statement knowingly or with disbelief in its truthfulness, they are subject to rigorous imprisonment ranging from six months to seven years, along with a fine.
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