BMA s.54

What section 54 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 does, and where it sits. This library holds no authority that turns on it.

No authority in this library turns on BMA s.54. That is a statement about this library and not about the law: it means no judgment, circular or instruction held here decides a point under it. What the provision does is explained below. If you are looking for a decision on it, say so through the search box — a provision people search for and we hold nothing on is the most useful thing we can be told.

Explained in this library

What bma s.54 does, in plain English, before you read what the courts made of it.

Prosecution for the same omission, and how it sits with the penalty

The notice proposes a penalty for leaving the foreign asset out of the return. Can they also prosecute me, and does answering the penalty concede anything on the substantive charge?