Section 27, Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 [S26-ZC9]
As at 7 September 2026. In force from 25 April 2015 by S.O. 582(E) [N12-GSP].
27. Grant of licence.—(1) An application for a licence to undertake the payment of sums liable to deduction shall be made to the Board in Form 26AS, accompanied by a fee of ten lakh rupees. (2) The Board may, after making such inquiry as it thinks fit, grant the licence subject to such conditions as may be prescribed, or, for reasons to be recorded in writing, refuse to grant the licence. (3) A licence granted under this section shall be valid for a period of three years from the date of its grant and may be renewed in such manner as may be prescribed. (4) The Board may, after giving the licensee an opportunity of being heard, suspend or cancel a licence for contravention of any condition thereof.
Defined terms in this text (1)
Board: Section 2, Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 [S26YKP] (In this Act, unless the context otherwise requires,—): "Board" means the Central Board of Direct Taxes constituted under the Central Boards of Revenue Act, 1963 (54 of 1963)
Board: 279 more definitions.
Made under this section, or naming it (0)
none
Cited by (2)
Section 26, Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 [S26-ZB7], 13 January 2015, Band A. "section 27".
Section 2, Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act (Amendment) Act, 2022 [S2A-ZNH], 24 March 2022, Band A. "section 27 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (22 of 2015)".
Not held (0)
none
Duties published under this section (0)
none