LawgistThe Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act
70Applicability of certain provisions of Income-tax Act and of Chapter V of Wealth-tax Act
The provisions of Chapter XV of the Income-tax Act relating to liability in special cases and of section 189 of that Act or of Chapter V of the Wealth-tax Act, 1957 (27 of 1957)relating to liability to assessment in special cases shall, so far as may be, apply in relation to proceeding sunder this Chapter as they apply in relation to proceedings under the Income-tax Act or, as the case may be, the Wealth-tax Act.
Download our fully-offline, High speed android app.- Click here
TAX COMPLIANCE FOR UNDISCLOSED FOREIGN INCOME AND ASSETS
- 59 Declaration of undisclosed foreign asset
- 60 Charge of tax
- 61 Penalty
- 62 Manner of declaration
- 63 Time for payment of tax
- 64 Undisclosed foreign asset declared not to be included in total income
- 65 Undisclosed foreign asset declared not to affect finality of completed assessments
- 66 Tax in respect of voluntarily disclosed asset not refundable
- 67 Declaration not admissible in evidence against declarant
- 68 Declaration by misrepresentation of facts to be void
- 69 Exemption from wealth-tax in respect of assets specified in declaration
- 70 Applicability of certain provisions of Income-tax Act and of Chapter V of Wealth-tax Act
- 71 Chapter not to apply to certain persons
- 72 Removal of doubts
