https://www.taxtmi.com/acts?id=19905 Imposes punishment on a resident other than a not ordinarily resident who holds foreign assets or foreign-source income and wilfully fails to furnish the required return of income in due time. The offence carries rigorous imprisonment of not less than six months and up to seven years, together with fine. The section does not apply if the return is furnished before the expiry of the assessment year, and excludes certain assets other than immovable property below the aggregate value threshold. en-us Fri, 03 Jul 2015 18:18:40 +0530 Mon, 06 Apr 2026 18:09:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=19905 Imposes punishment on a resident other than a not ordinarily resident who holds foreign assets or foreign-source income and wilfully fails to furnish the required return of income in due time. The offence carries rigorous imprisonment of not less than six months and up to seven years, together with fine. The section does not apply if the return is furnished before the expiry of the assessment year, and excludes certain assets other than immovable property below the aggregate value threshold. Act-Rules Direct Taxes Fri, 03 Jul 2015 18:18:40 +0530 https://www.taxtmi.com/acts?id=19905