Effect of declaration on pending assessment proceedings.

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....k Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (22 of 2015) are pending in respect of such income or assets, the Assessing Officer shall take such declaration into account while finalising such assessment order. - Clauses 114 to 128 of the Bill seeks to insert a new Chapter relating to the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026. The Chapt....

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....the provisions relating to the manner, form and verification of the declaration and the circumstances in which such declaration shall be deemed invalid; (f) the provisions relating to electronic verification of declarations, determination of the amount payable, time limits for payment, levy of interest for delayed payment and issuance of certificate evidencing payment; (g) the pr....