{"act":{"id":"finance-act-2026","short_title":"The Finance Act, 2026","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2026-2027.","act_number":"4","act_year":2026,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":167,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2026/"},"unit":"section","section":{"number":"132","heading":"Declaration by declarant","text":"Declaration by declarant. 132. Subject to the provisions of this Scheme, any person may make, on or after the date of commencement of this Scheme but on or before the last date, a declaration, for any previous year, in respect of any income or asset referred to in section [133], where— (a) | he has failed to furnish a return under section 139 of the Income-tax Act, 1961 (43 of 1961); or (b) | he has failed to disclose such asset or income, in a return of income furnished by him under the Income-tax Act, 1961 (43 of 1961) before the date of commencement of this Scheme; or (c) | such asset or income has escaped assessment within the meaning of section 147 of the Income-tax Act, 1961 (43 of 1961).","html":"<p><b>Declaration by declarant.</b></p><p><b>132.</b> Subject to the provisions of this Scheme, any person may make, on or after the date of commencement of this Scheme but on or before the last date, a declaration, for any previous year, in respect of any income or asset referred to in section [<i>133</i>], where—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>he has failed to furnish a return under section 139 of the Income-tax Act, 1961 (43 of 1961); or</td></tr><tr><td>(<i>b</i>)</td><td></td><td>he has failed to disclose such asset or income, in a return of income furnished by him under the Income-tax Act, 1961 (43 of 1961) before the date of commencement of this Scheme; or</td></tr><tr><td>(<i>c</i>)</td><td></td><td>such asset or income has escaped assessment within the meaning of section 147 of the Income-tax Act, 1961 (43 of 1961).</td></tr></table></div>","words":131,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2026/section/132/","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."}