{"act":{"id":"finance-act-1997","short_title":"The Finance Act, 1997","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 1997-1998.","act_number":null,"act_year":1997,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":80,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-1997/"},"unit":"section","section":{"number":"68","heading":"Voluntarily disclosed income not to be included in the total income","text":"Voluntarily disclosed income not to be included in the total income. 68. (l)The amount of the voluntarily disclosed income shall not be included in the total income of the declarant for any assessment year under the Income-tax Act, if the following conditions arc fulfilled, namely :— the declarant credits such amount in the books of account, if any, maintained by him for any source of income or in any other record, and intimates the credit so made to the Assessing Officer; and the income-tax in respect of the voluntarily disclosed income is paid by the declarant within the time specified in section 66 or section 67. (2) The Commissioner shall, on an application made by the declarant, grant a certificate to him setting forth the particulars of the voluntarily disclosed income and the amount of income-tax paid in respect of the same. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Voluntarily disclosed income not to be included in the total income.</b></p><p><b>68. </b>(l)The amount of the voluntarily disclosed income shall not be included in the total income of the declarant for any assessment year under the Income-tax Act, if the following conditions arc fulfilled, namely :—</p><p>the declarant credits such amount in the books of account, if any, maintained by him for any source of income or in any other record, and intimates the credit so made to the Assessing Officer; and</p><p>the income-tax in respect of the voluntarily disclosed income is paid by the declarant within the time specified in section 66 or section 67.</p><p><span class=\"num\">(2)</span> The Commissioner shall, on an application made by the declarant, grant a certificate to him setting forth the particulars of the voluntarily disclosed income and the amount of income-tax paid in respect of the same.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":148,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-1997/section/68/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}