Section 4(1) in The Black Money (Undisclosed Foreign Income And Assets) And Imposition Of Tax Act, 2015
(1)Subject to the provisions of this Act, the total undisclosed foreign income and asset of any previous year of an assessee shall be,—(a)the income from a source located outside India, which has not been disclosed in the return of income furnished within the time specified in Explanation 2 to sub-section (1) or under sub-section (4) or sub-section (5) of section 139 of the Income-tax Act;(b)the income, from a source located outside India, in respect of which a return is required to be furnished under section 139 of the Income-tax Act but no return of income has been furnished within the time specified in Explanation 2 to sub-section (1) or under sub-section (4) or sub-section (5) of section 139 of the said Act; and(c)the value of an undisclosed asset located outside India.
