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of <h1>Amendments to Black Money Act: Changes to Sections 46 and 55 on Penalties and Prosecution Authority</h1> The amendments to the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, effective from April 1, 2018, involve changes to sections 46 and 55. Section 46 amendments allow the Joint Director, along with the Joint Commissioner, to approve penalty orders, and empower the Assistant and Deputy Directors to levy penalties. Section 55 amendments adjust the marginal heading to include the Principal Director General or Director General and authorize them to issue prosecution instructions, alongside the Principal Chief Commissioner or Chief Commissioner, for offenses under sections 49 to 53.
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