ITO Section 195B | Prosecution for enabling offshore tax evasion.–

ITO Section 195B

Prosecution for enabling offshore tax evasion.– 

Any enabler who enables, guides or advises any person to design, arrange or manage a transaction or declaration in such a manner which results in offshore tax evasion, shall commit an offence punishable on conviction with imprisonment for a term not exceeding seven years or with a fine up to five million Rupees or both.