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

Q: What does Section 41 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BMA) deal with?

Section 41 BMA pertains to "Penalty in relation to undisclosed foreign income and asset". It is part of the The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, a legislation enacted by the Parliament of India. Section 41 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BMA) prescribes penalty in relation to undisclosed foreign income and asset. As verified on 19 May 2026.

Q: Is Section 41 BMA still in force?

Yes, Section 41 of the The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 is currently in force across the Republic of India.

Q: What is धारा 41 BMA?

धारा 41 BMA is the Devanagari Hindi reference for Section 41 of the The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. Section 41 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BMA) prescribes penalty in relation to undisclosed foreign income and asset. As verified on 19 May 2026.

Q: What is Dhara 41 BMA?

Dhara 41 BMA is the Roman Hindi reference for Section 41 of the The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. "Dhara" means "Section" in Hindi. Section 41 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BMA) prescribes penalty in relation to undisclosed foreign income and asset. As verified on 19 May 2026.

Q: How to cite Section 41 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015?

Cite as: "Section 41, The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BMA)" in legal briefs. For academic writing, use the BlueBook format: The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, 2015, § 41 (India).

Law on Tips Editorial Board

The Assessing Officer may direct that in a case where tax has been computed under section 10 in respect of undisclosed foreign income and asset, the assessee shall pay by way of penalty, in addition to tax, if any, payable by him, a sum equal to three times the tax computed under that section.