73. Agreement with foreign countries or specified territories.—(1) The Central Government may
enter into an agreement with the Government of any other country—
(a) for exchange of information for the prevention of evasion or avoidance of tax on undisclosed
foreign income chargeable under this Act or under the corresponding law in force in that country, or
investigation of cases of such evasion or avoidance;
(b) for recovery of tax under this Act and under the corresponding law in force in that country.
(2) The Central Government may enter into an agreement with the Government of any specified
territory outside India for the purposes specified in sub-section (1).
(3) The Central Government may, by notification, make such provisions as may be necessary for
implementing the agreements referred to in sub-sections (1) and (2).
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(4) Any specified association in India may enter into an agreement with any specified association in
the specified territory outside India for the purposes of sub-section (1) and the Central Government may
by notification make such provisions as may be necessary for adopting and implementing such
agreement.
(5) Any term used but not defined in this Act or in the agreement referred to in sub-sections (1), (2) or
sub-section (4) shall, unless the context otherwise requires, and is not inconsistent with the provisions of
this Act or the agreement, have the meaning assigned to it in the notification issued by the Central
Government and such meaning shall be deemed to have effect from the date on which the said agreement
came into force.
74. Service of notice generally.—(1) The service of any notice, summons, requisition, order or any
other communication under this Act (herein referred to in this section as ―communication‖) may be made
by delivering or transmitting a copy thereof, to the person named therein,—
(a) by post or by such courier service as may be approved by the Board;
(b) in such manner as provided under the Code of Civil Procedure, 1908 (5 of 1908) for the
purposes of service of summons;
(c) in the form of any electronic record as provided in Chapter IV of the Information Technology
Act, 2000 (21 of 2000); or
(d) by any other means of transmission of documents, including fax message or electronic mail
message, as may be prescribed.
(2) The Board may make rules providing for the addresses including the address for electronic mail or
electronic mail message to which the communication referred to in sub-section (1) may be delivered or
transmitted to the person named therein.
(3) In this section, the expressions ―electronic mail‖ and ―electronic mail message‖ shall have the
same meanings as assigned to them in the Explanation to section 66A of the Information Technology
Act, 2000 (21 of 2000).
75. Authentication of notices and other documents.—(1) A notice or any other document required
to be issued, served or given for the purposes of this Act by any tax authority shall be authenticated by
that authority.
(2) Every notice or other document to be issued, served or given for the purposes of this Act by any
tax authority shall be deemed to be authenticated, if the name and office of a designated tax authority is
printed, stamped or otherwise written thereon.
(3) In this section, a designated tax authority shall mean any tax authority authorised by the Board to
issue, serve or give such notice or other document after authentication in the manner as provided in
sub-section (2).
76. Notice deemed to be valid in certain circumstances.—(1) A notice which is required to be
served upon a person for the purposes of assessment under this Act shall be deemed to have been duly
served upon him in accordance with the provisions of this Act, if the person has appeared in any
proceeding or co-operated in any inquiry relating to an assessment.
(2) The person, referred to in sub-section (1), shall be precluded from taking any objection in any
proceeding or inquiry under this Act that the notice was—
(a) not served upon him;
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(b) not served upon him in time; or
(c) served upon him in an improper manner.
(3) The provisions of this section shall not apply, if the person has raised the objection before the
completion of the assessment.
77. Appearance by approved valuer in certain matters.—(1) Any assessee who is entitled or
required to attend before any tax authority or the Appellate Tribunal, in connection with any matter
relating to the valuation of any asset, may attend through a valuer approved by the Principal
Commissioner or the Commissioner in accordance with such rules as may be prescribed.
(2) The provisions of sub-section (1) shall not apply in a case where the assessee is required to attend
personally for examination on oath or affirmation under section 8.
78. Appearance by authorised representative.—(1) Any assessee who is entitled or required to
attend before any tax authority or the Appellate Tribunal, in connection with any proceeding under this
Act, may attend through an authorised representative.
(2) The provisions of sub-section (1) shall not apply in a case where the assessee is required to attend
personally for examination on oath or affirmation under section 8.
(3) In this section, ―authorised representative‖ means a person authorised by the assessee in writing to
appear on his behalf, being—
(a) a person related to the assessee in any manner, or a person regularly employed by the
assessee;
(b) any officer of a scheduled bank with which the assessee maintains a current account or has
other regular dealings;
(c) any legal practitioner who is entitled to practice in any civil court in India;
(d) an accountant;
(e) any person who has passed any accountancy examination recognised in this behalf by the
Board; or
(f) any person who has acquired such educational qualifications as may be prescribed.
(4) The following persons shall not be qualified to represent an assessee under sub-section (1),
namely:—
(a) a person who has been dismissed or removed from Government service;
(b) a legal practitioner, or an accountant, who is found guilty of misconduct in his professional
capacity by any authority entitled to institute disciplinary proceedings against him;
(c) a person, not being a legal practitioner or an accountant, who is found guilty of misconduct in
any tax proceedings by such authority as may be prescribed.
(5) The Principal Chief Commissioner or the Chief Commissioner may, by an order in writing,
specify the period up to which the disqualification under sub-section (4) shall continue, having regard to
the nature of misconduct and such disqualification shall not exceed—
(i) in case of clauses (a) and (c) of sub-section (4), a period of ten years;
(ii) in case of clause (b) of sub-section (4), the period for which the legal practitioner or an
accountant is not entitled to practice.
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(6) A person shall not be allowed to appear as an authorised representative, if he has committed any
fraud or misrepresented the facts which resulted in loss to the revenue and that person has been declared
as such by an order of the Principal Chief Commissioner or the Chief Commissioner.
Explanation.—In this section, ―accountant‖ means a chartered accountant as defined in clause (b) of
sub-section (1) of section 2 of the Chartered Accountants Act, 1949 (38 of 1949) who holds a valid
certificate of practice under sub-section (1) of section 6 of that Act.
79. Rounding off of income, value of asset and tax.—(1) The amount of undisclosed foreign
income and asset computed in accordance with this Act shall be rounded off to the nearest multiple of one
hundred rupees.
(2) Any amount payable or receivable by the assessee under this Act shall be rounded off to the
nearest multiple of ten rupees.
(3) The method of rounding off under sub-section (1) or sub-section (2), shall be such as may be
prescribed.
80. Congnizance of offences.—No court inferior to that of a metropolitan magistrate or a magistrate
of the First Class shall try any offence under this Act.
81. Assessment not to be invalid on certain grounds.—No assessment, notice, summons or other
proceedings, made or issued or taken or purported to have been made or issued or taken in pursuance of
any of the provisions of this Act shall be invalid or shall be deemed to be invalid merely by reason of any
mistake, defect or omission in such assessment, notice, summons or other proceeding if such assessment,
notice, summons or other proceeding is in substance and effect in conformity with or according to the
intent and purpose of this Act.
82. Bar of suits in civil courts.—(1) No suit shall be brought in any civil court to set aside or modify
any proceeding taken or order made under this Act.
(2) No prosecution, suit or other proceeding shall lie against the Government or any officer of the
Government, for anything in good faith done or intended to be done, under this Act.
83. Income-tax papers to be available for purposes of this Act.—Notwithstanding anything
contained in the Income-tax Act, all information contained in any statement or return made or furnished
under the provisions of that Act or obtained or collected for the purposes of the said Act may be used for
the purposes of this Act.
84. Application of provisions of Income-tax Act.—The provisions of clauses (c) and (d) of
sub-section (1) of section 90, clauses (c) and (d) of sub-section (1) of section 90A, sections 119, 133, 134,
135, 138, Chapter XV and sections 237, 240, 245, 280, 280A, 280B, 280D, 281, 281B and 284 of the
Income-tax Act shall apply with necessary modifications as if the said provisions refer to undisclosed
foreign income and asset instead of to income-tax.
85. Power to make rules.—(1) The Board may, subject to the approval of the Central Government,
by notification in the Official Gazette, make rules for carrying out the provisions of this Act.
(2) In particular, and without prejudice to the generality of the foregoing power, such rules may
provide for all or any of the following matters, namely:—
(a) the manner of determination of the value of an undisclosed foreign asset referred to in
sub-section (2) of section 3;
(b) the tax authority to be prescribed for any of the purposes of this Act;
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(c) the form and manner of service of a notice of demand under section 13;
(d) the form in which any appeal, revision or cross-objection may be filed under this Act, the
manner in which they may be verified and the fee payable in respect thereof;
(e) the form in which the Tax Recovery Officer may draw up the statement of tax arrears under
sub-section (1) of section 31;
(f) the manner in which the sum is to be paid to the credit of Central Government under
sub-section (2) or sub-section (5) of section 32;
(g) the manner in which the Tax Recovery Officer shall send a certificate referred to in
sub-section (2) of section 33;
(h) the form in which a declaration referred to in sub-section (1) of section 62 is to be made and
the manner in which it is to be verified;
(i) the means of transmission of documents under clause (d) of sub-section (1) of section 74;
(j) the procedure for approval of a valuer by the Principal Commissioner or the Commissioner
under section 77;
(k) the educational qualifications required, to be an authorised representative under clause (f) of
sub-section (3) of section 78;
(l) the tax authority under clause (c) of sub-section (4) of section 78;
(m) the method of rounding off of the amount referred to in sub-section (1) or sub-section (2) of
section 79;
(n) any other matter which by this Act is to be, or may be, prescribed.
(3) The power to make rules conferred by this section shall include the power to give retrospective
effect to the rules or any of them from a date not earlier than the date of commencement of this Act and
no retrospective effect shall be given to any rule so as to prejudicially affect the interest of assessees.
(4) The Central Government shall cause every rule made under this Act to be laid as soon as may be
after it is made before each House of Parliament while it is in session for a total period of thirty days
which may be comprised in one session or in two or more successive sessions and if, before the expiry of
the session immediately following the session or the successive sessions aforesaid, both Houses agree in
making any modification in the rule or both Houses agree that the rule should not be made, the rule shall
thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that
any such modification or annulment shall be without prejudice to the validity of anything previously done
under that rule.
86. Power to remove difficulties.—(1) If any difficulty arises in giving effect to the provisions of
this Act, the Central Government may, by order, not inconsistent with the provisions of this Act, remove
the difficulty:
Provided that no such order shall be made after the expiry of a period of two years from the date on
which the provisions of this Act come into force.
(2) Every order made under this section shall be laid before each House of Parliament.
87. Amendment of section 2 of Act 54 of 1963.—In section 2 of the Central Boards of Revenue
Act, 1963, in sub-clause (1) of clause (c),—
(a) in item (vii), the word ―and‖ occurring at the end shall be omitted; and
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(b) after item (ix) as so amended, the following item shall be inserted, namely:—
―(x) the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax
Act, 2015; and‖
88. Amendment of Act of 15 of 2003.—In the Prevention of Money-laundering Act, 2002, in the
Schedule, in Part C, after entry (3), relating to the offences against property under Chapter XVII of the
Indian Penal Code (45 of 1860), the following entry shall be inserted, namely:—
―(4) The offence of wilful attempt to evade any tax, penalty or interest referred to in section 51 of the
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.‖.