Act Number: 22

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

Year: 2015

Enactment Date: 2015-05-26

Long Title: An Act to make provisions to deal with the problem of the Black money that is undisclosed foreign income and assets, the procedure for dealing with such income and assets and to provide for imposition of tax on any undisclosed foreign income and asset held outside India and for matters connected therewith or incidental thereto.

Ministry: Ministry of Finance

Department: Department of Revenue

Section 51: Punishment for wilful attempt to evade tax.
    (1) If a person, being a resident other than not ordinarily resident in India within the meaning of clause (6) of section 6 of the Income-tax Act, wilfully attempts in any manner whatsoever to evade any tax, penalty or interest chargeable or imposable under this Act, he shall be punishable with rigorous imprisonment for a term which shall not be less than three years but which may extend to ten years and with fine.
     (2) If a person wilfuly attempts in any manner whatsoever to evade the payment of any tax, penalty or interest under this Act, he shall, without prejudice to any penalty that maybe imposable on him under any other provision of this Act, be punishable with rigorous imprisonment for a term which shall not be less than three months but which may extend to three years and shall, in the discretion of the court, also be liable to fine.
     (3) For the purposes of this section, a wilful attempt to evade any tax, penalty or interest chargeable or imposable under this Act or the payment thereof shall include a case where any person—
         (i) has in his possession or control any books of account or other documents(being books of account or other documents relevant to any proceeding under this Act) containing a false entry or statement; or
         (ii) makes or causes to be made any false entry or statement in such books of account or other documents; or
         (iii) wilfuly omits or causes to be omitted any relevant entry or statement in such books of account or other documents; or
         (iv) causes any other circumstance to exist which will have the effect of enabling such person to evade any tax, penalty or interest chargeable or imposable under this Act or the payment thereof.
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