Section - 3, Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015

 CHAPTER II

BASIS OF CHARGE

Charge of tax

3. (1) There shall be charged on every assessee for every assessment year commencing on or after the 1st day of April, 2016, subject to the provisions of this Act, a tax in respect of his total undisclosed foreign income and asset of the previous year at the rate of thirty per cent of such undisclosed income and asset:

Provided that an undisclosed asset located outside India shall be charged to tax on its value in the previous year in which such asset comes to the notice of the Assessing Officer.

(2) For the purposes of this section, "value of an undisclosed asset" means the fair market value of an asset (including financial interest in any entity) determined in such manner as may be prescribed.

Section - 3, Charitable Endowments Act, 1890

 Appointment and incorporation of treasurer of Charitable Endowments.

3. (1) The Central Government may appoint an officer of the Government by the name of his office to be Treasurer of Charitable Endowments for India, and the Government of any State may appoint an officer of the Government by the name of his office to be Treasurer of Charitable Endowments for the State.

(2) Such Treasurer shall, for the purposes of taking, holding and transferring moveable or immovable property under the authority of this Act, be a corporation sole by the name of the Treasurer of Charitable Endowments for India or, as the case may be, the State, and, as such Treasurers shall have perpetual succession and a corporate seal, and may sue and be sued in his corporate name.