If a person, makes a statement in any verification under this Act or under any rule made thereunder, or delivers an account or statement which is false, and which he either knows or believes to be false, or does not believe to be true, 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.
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Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · Charge of tax.Section 4 · Scope of total undisclosed foreign income and asset.Section 5 · Computation of total undisclosed foreign income and asset.Section 6 · Tax authorities.Section 7 · Change of incumbent.Section 8 · Powers regarding discovery and production of evidence.India Code, Government of India. Text fetched 17 Oct 2026. Source metadata reports last modification: 2019-11-29. Check the linked official text and subsequent notifications when applying a provision.