https://www.taxtmi.com/acts?id=19857 Definitions set the Act's scope: Assessee encompasses residents and certain prior-year residents; undisclosed asset located outside India covers foreign assets and financial interests where source explanations are absent or unsatisfactory; undisclosed foreign income and asset means undisclosed foreign income plus the value of such undisclosed assets as computed under the Act. The section also defines assessment, assessment year, Board, participant, prescribed, previous year, resident, value of an undisclosed asset, and adopts meanings from the Income-tax Act where terms are not otherwise defined. en-us Fri, 03 Jul 2015 17:58:29 +0530 Tue, 11 Nov 2025 15:00:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=19857 Definitions set the Act's scope: Assessee encompasses residents and certain prior-year residents; undisclosed asset located outside India covers foreign assets and financial interests where source explanations are absent or unsatisfactory; undisclosed foreign income and asset means undisclosed foreign income plus the value of such undisclosed assets as computed under the Act. The section also defines assessment, assessment year, Board, participant, prescribed, previous year, resident, value of an undisclosed asset, and adopts meanings from the Income-tax Act where terms are not otherwise defined. Act-Rules Direct Taxes Fri, 03 Jul 2015 17:58:29 +0530 https://www.taxtmi.com/acts?id=19857