Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015

Section - 1 - Short title, extent and commencement

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Section - 2 - Definitions

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Section - 3 - Charge of tax

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Section - 4 - Scope of total undisclosed foreign income and asset

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Section - 5 - Computation of total undisclosed foreign income and asset

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Section - 6 - Tax authorities

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Section - 7 - Change of incumbent

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Section - 8 - Powers regarding discovery and production of evidence

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Section - 9 - Proceedings before tax authorities to be judicial proceedings

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Section - 10 - Assessment

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Section - 11 - Time limit for completion of assessment and reassessment

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Section - 12 - Rectification of mistake

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Section - 13 - Notice of demand

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Section - 14 - Direct assessment or recovery not barred

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Section - 15 - Appeals to the Commissioner (Appeals)

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Section - 16 - Procedure to be followed in appeal

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Section - 17 - Powers of Commissioner (Appeals)

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Section - 18 - Appeals to Appellate Tribunal

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Section - 19 - Appeal to High Court

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Section - 20 - Case before High Court to be heard by not less than two Judges

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Section - 21 - Appeal to Supreme Court

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Section - 22 - Hearing before Supreme Court

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Section - 23 - Revision of orders prejudicial to revenue

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Section - 24 - Revision of other orders

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Section - 25 - Tax to be paid pending appeal

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Section - 26 - Execution of order for costs awarded by Supreme Court

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Section - 27 - Amendment of assessment on appeal

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Section - 28 - Exclusion of time taken for obtaining copy

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Section - 29 - Filing of appeal by tax authority

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Section - 30 - Recovery of tax dues by Assessing Officer

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Section - 31 - Recovery of tax dues by Tax Recovery Officer

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Section - 32 - Modes of recovery of tax dues

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Section - 33 - Tax Recovery Officer by whom recovery of tax dues is to be effected

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Section - 34 - Recovery of tax dues in case of a company in liquidation

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Section - 35 - Liability of manager of a company

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Section - 36 - Joint and several liability of participants

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Section - 37 - Recovery through State Government

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Section - 38 - Recovery of tax dues in pursuance of agreements with foreign countries or specified territory

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Section - 39 - Recovery by suit or under other law not affected

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Section - 40 - Interest for default in furnishing return and payment or deferment of advance tax

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Section - 41 - Penalty in relation to undisclosed foreign income and asset

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Section - 42 - Penalty for failure to furnish return in relation to foreign income and asset

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Section - 43 - Penalty for failure to furnish in return of income, an information or furnish inaccurate particulars about an asset (including financial interest in any entity) located outside India

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Section - 44 - Penalty for default in payment of tax arrear

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Section - 45 - Penalty for other defaults

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Section - 46 - Procedure

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Section - 47 - Bar of limitation for imposing penalty

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Section - 48 - Chapter not in derogation of any other law or any other provision of this Act

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Section - 49 - Punishment for failure to furnish return in relation to foreign income and asset

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Section - 50 - Punishment for failure to furnish in return of income, any information about an asset (including financial interest in any entity) located outside India

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Section - 51 - Punishment for wilful attempt to evade tax

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Section - 52 - Punishment for false statement in verification

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Section - 53 - Punishment for abetment

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Section - 54 - Presumption as to culpable mental state

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Section - 55 - Prosecution to be at instance of Principal Chief Commissioner or Principal Director General or Chief Commissioner or Director General or Principal Commissioner or Commissioner

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Section - 56 - Offences by companies

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Section - 57 - Proof of entries in records or documents

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Section - 58 - Punishment for second and subsequent offences

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Section - 59 - Declaration of undisclosed foreign asset

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Section - 60 - Charge of tax

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Section - 61 - Penalty

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Section - 62 - Manner of declaration

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Section - 63 - Time for payment of tax

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Section - 64 - Undisclosed foreign asset declared not to be included in total income

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Section - 65 - Undisclosed foreign asset declared not to affect finality of completed assessments

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Section - 66 - Tax in respect of voluntarily disclosed asset not refundable

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Section - 67 - Declaration not admissible in evidence against declarant

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Section - 68 - Declaration by misrepresentation of facts to be void

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Section - 69 - Exemption from wealth-tax in respect of assets specified in declaration

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Section - 70 - Applicability of certain provisions of Income-tax Act and of Chapter V of Wealth-tax Act

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Section - 71 - Chapter not to apply to certain persons

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Section - 72 - Removal of doubts

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Section - 73 - Agreement with foreign countries or specified territories

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Section - 74 - Service of notice generally

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Section - 75 - Authentication of notices and other documents

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Section - 76 - Notice deemed to be valid in certain circumstances

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Section - 77 - Appearance by approved valuer in certain matters

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Section - 78 - Appearance by authorised representative

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Section - 79 - Rounding off of income, value of asset and tax

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Section - 80 - Congnizance of offences.

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Section - 81 - Assessment not to be invalid on certain grounds

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Section - 82 - Bar of suits in civil courts

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Section - 83 - Income-tax papers to be available for purposes of this Act

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Section - 84 - Application of provisions of Income-tax Act

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Section - 85 - Power to make rules

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Section - 86 - Power to remove difficulties

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Section - 87 - Amendment of section 2 of Act 54 of 1963

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Section - 88 - Amendment of Act of 15 of 2003

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