Penalty for failure to furnish return in relation to foreign income and asset.

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Full Text of the Document

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....g of clause (6) of section 6 of the Income-tax Act, who is required to furnish a return of his income for any previous year, as required under sub-section (1) of section 139 of the Income-tax Act or by the provisos to that sub-section, and who at any time during such previous year, (i) held any asset (including financial interest in any entity) located outside India as a beneficial owner or othe....