Section 87 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 in hindi
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:— "(x) the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015; and"
Summary
- This provision changes the Central Boards of Revenue Act of 1963.
- It adds the Black Money Act of 2015 to the list of laws overseen by the national tax board.
- It removes the word and from the end of an earlier item in that list to prepare for the new entry.
- It formally inserts this tax law as item number ten in the definition section of the 1963 law.
Practical examples
FAQ
1. Which earlier law does Section 87 of the Black Money Act of 2015 change?
Section 87 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 changes Section 2 of the Central Boards of Revenue Act, 1963.
2. Why is Section 87 of the Black Money Act important for the tax board?
Section 87 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 ensures the Central Board of Direct Taxes is legally recognized as the authority for managing this specific law.
3. Does Section 87 of the Black Money Act add a new item to a definition list?
Yes, Section 87 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 adds the name of this law as item number ten in the definition of the Board under the 1963 law.
Test yourself
Q1.Which Act is amended by Section 87 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015?
Q2.What item number is given to the Black Money law in the amended definition under Section 87 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015?
Q3.According to Section 87 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, what word was removed from item (vii) of the 1963 Act?
Q4.Under Section 87 of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, which part of the 1963 Act is being changed?