Section 50: Punishment for failure to furnish in return of income, any information about an asset (including financial interest in any entity) located outside India

Q: What does Section 50 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BMA) deal with?

Section 50 BMA pertains to "Punishment for failure to furnish in return of income, any information about an asset (including financial interest in any entity) located outside India". 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 50 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BMA) prescribes punishment for failure to furnish in return of income, any information about an asset (including financial interest in any entity) located outside India. As verified on 19 May 2026.

Q: Is Section 50 BMA still in force?

Yes, Section 50 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 50 BMA?

धारा 50 BMA is the Devanagari Hindi reference for Section 50 of the The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. Section 50 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BMA) prescribes punishment for failure to furnish in return of income, any information about an asset (including financial interest in any entity) located outside India. As verified on 19 May 2026.

Q: What is Dhara 50 BMA?

Dhara 50 BMA is the Roman Hindi reference for Section 50 of the The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. "Dhara" means "Section" in Hindi. Section 50 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BMA) prescribes punishment for failure to furnish in return of income, any information about an asset (including financial interest in any entity) located outside India. As verified on 19 May 2026.

Q: How to cite Section 50 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015?

Cite as: "Section 50, 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, § 50 (India).

Law on Tips Editorial Board

If any 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, who has furnished the return of income for any previous year under sub-section (1) or sub-section (4) or sub-section (5) of section 139 of that Act, wilfully fails to furnish in such return any information relating to an asset (including financial interest in any entity) located outside India, held by him, as a beneficial owner or otherwise or in which he was a beneficiary, at any time during such previous year, or disclose any income from a source outside India, he shall be punishable with rigorous imprisonment for a term which shall not be less than six months but which may extend to seven years and with fine.