Section 60Central Act

Section 60: Charge of tax.

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

Notwithstanding anything contained in the Income-tax Act or in any Finance Act, the undisclosed asset located outside India and declared under section 59 within the time specified therein shall be chargeable to tax at the rate of thirty per cent. of value of such undisclosed asset on the date of commencement of this Act.

Sec 59 — Declaration of undisclosed foreign asset.

Sec 61 — Penalty.

Disclaimer: This section is reproduced for general informational and reference purposes only. Always verify against the latest official gazette and consult a qualified advocate before relying on any provision.