Section 69: Exemption from wealth-tax in respect of assets specified in declaration

Q: What does Section 69 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BMA) deal with?

Section 69 BMA pertains to "Exemption from wealth-tax in respect of assets specified in declaration". 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 69 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BMA) governs exemption from wealth-tax in respect of assets specified in declaration. As verified on 19 May 2026.

Q: Is Section 69 BMA still in force?

Yes, Section 69 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 69 BMA?

धारा 69 BMA is the Devanagari Hindi reference for Section 69 of the The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. Section 69 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BMA) governs exemption from wealth-tax in respect of assets specified in declaration. As verified on 19 May 2026.

Q: What is Dhara 69 BMA?

Dhara 69 BMA is the Roman Hindi reference for Section 69 of the The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. "Dhara" means "Section" in Hindi. Section 69 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BMA) governs exemption from wealth-tax in respect of assets specified in declaration. As verified on 19 May 2026.

Q: How to cite Section 69 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015?

Cite as: "Section 69, 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, § 69 (India).

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(1)

Where the undisclosed asset located outside India is represented by cash (including bank deposits), bullion or any other assets specified in the declaration made under section 59—

(a) in respect of which the declarant has failed to furnish a return under section 14 of the Wealth-tax Act, 1957 (27 of 1957) for the assessment year commencing on or before the 1st day of April, 2015; or

(b) which have not been shown in the return of net wealth furnished by him for the said assessment year or years; or

(c) which have been understated in value in the return of net wealth furnished by him for the said assessment year or years,

(I) wealth-tax shall not be payable by the declarant in respect of the assets referred to in clause (a) or clause (b) and such assets shall not be included in his net wealth for the said assessment year or years;

(II) the amount by which the value of the assets referred to in clause (c) has been understated in the return of net wealth for the said assessment year or years, to the extent such amount does not exceed the voluntarily disclosed income utilised for acquiring such assets, shall not be taken into account in computing the net wealth of the declarant for the said assessment year or years.

(2)

The provisions of sub-section (1) shall not apply unless the conditions specified in sub-sections (1) and (2) of section 63 are fulfilled by the declarant.