alleryStart learning →Failure to file a return of foreign assets under the Black Money Act attracts a penalty of how much?
ARs 50,000
BRs 2,00,000
CRs 5,00,000
DRs 10,00,000
Answer & Solution
Correct answer: D. Rs 10,00,000
The failure to file a return before the end of the assessment year draws a Rs 10 lakh penalty.
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