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of <h1>Amendment to Section 17 of Black Money Act: Orders can now modify penalties, effective September 1, 2019.</h1> Section 17 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, is amended by the Finance (No. 2) Act, 2019. In section 17, sub-section (1), clause (b), the phrase 'such order' is replaced with 'or vary such order either to enhance or reduce the penalty.' This amendment, effective from September 1, 2019, allows for the modification of orders to either increase or decrease the penalty imposed.
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