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 […]

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 (b) after item (ix) as so amended, the following item shall be inserted, namely:—

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

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

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, 9[138, 144A], Chapter XV and sections 237, 240, 245, 280, 280A, 280B, 280D, 281, 281B and 284 of the Income-tax Act shall

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.

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

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

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.

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