Section 40: Interest for default in furnishing return and payment or deferment of advance tax.

The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015Central Act · Act 22 of 2015

(1) Where the assessee has any income from a source outside India which has not been disclosed in the return of income furnished under sub-section (1) of section 139of the Income-tax Act or the return of income has not been furnished under the said sub-section, interest shall be chargeable in accordance with the provisions of section 234A of the Income-tax Act.

(2) Where the assessee has any undisclosed income from a source outside India and the advance tax on such income has not been paid in accordance with Part C of Chapter XVII of the Income-tax Act, interest shall be chargeable in accordance with the provisions of sections 234B and 234C of the Income-tax Act.

Where this provision sits

Act	The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
Section	40
Marginal note	Interest for default in furnishing return and payment or deferment of advance tax.
Jurisdiction	Central
Status	In force as published by the source

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