https://www.taxtmi.com/article/detailed?id=15846 Clause 144 proposes provisos to Sections 49 and 50, effective retrospectively from 1 October 2024, excluding from those criminal provisions any foreign movable assets whose aggregate value does not exceed Rs.20 lakh while expressly preserving prosecutions for foreign immovable property and higher-value holdings; the amendments therefore introduce a monetary threshold to limit criminal liability for minor omissions without altering the Act's core penal framework. en-us Tue, 10 Feb 2026 09:10:35 +0530 Tue, 10 Feb 2026 09:10:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=15846 Clause 144 proposes provisos to Sections 49 and 50, effective retrospectively from 1 October 2024, excluding from those criminal provisions any foreign movable assets whose aggregate value does not exceed Rs.20 lakh while expressly preserving prosecutions for foreign immovable property and higher-value holdings; the amendments therefore introduce a monetary threshold to limit criminal liability for minor omissions without altering the Act's core penal framework. Articles Budget - Tax Proposals Tue, 10 Feb 2026 09:10:35 +0530 https://www.taxtmi.com/article/detailed?id=15846