{"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":"133","heading":"Amount payable by declarant","text":"Amount payable by declarant. 133. The declaration referred to in section [132] may be filed in respect of assets or income as specified in column (2) of the Table below and in respect of such assets or income, the amount payable by the declarant under this Scheme shall be as specified in column (3), subject to the conditions in column (4), of the said Table: TABLE Sl. No. | Type of assets or income | Amount payable | Conditions (1) | (2) | (3) | (4) 1. | (a) | Undisclosed asset located outside India; or (b) | undisclosed foreign income. | Aggregate of,— (i) | tax at the rate of thirty per cent. of the value of the undisclosed asset located outside India as on the 31st March, 2026; (ii) | tax at the rate of thirty per cent. of the undisclosed foreign income; and (iii) | an amount equal to one hundred per cent. of tax determined in clauses (i) and (ii). | The aggregate value of the undisclosed asset located outside India and the undisclosed foreign income does not exceed one crore rupees. 2. | (a) | Asset located outside India acquired from income accruing or arising outside India, by an assessee, during the period in which such assessee was a non-resident, but such assets were not declared by him in the relevant Schedule in the return of income on becoming a resident; or (b) | asset located outside India acquired from income which has been offered to tax under the Income-tax Act, 1961 (43 of 1961) by the assessee, but such assets were not declared by him in the relevant Schedule in the return of income. | A fee of one lakh rupees. | The value of the asset located outside India does not exceed five crore rupees.","html":"Amount payable by declarant.
133. The declaration referred to in section [132] may be filed in respect of assets or income as specified in column (2) of the Table below and in respect of such assets or income, the amount payable by the declarant under this Scheme shall be as specified in column (3), subject to the conditions in column (4), of the said Table:
TABLE
| Sl. No. | Type of assets or income | Amount payable | Conditions |
| (1) | (2) | (3) | (4) |
| 1. | | (a) | | Undisclosed asset located outside India; or | | (b) | | undisclosed foreign income. |
| Aggregate of,—| (i) | | tax at the rate of thirty per cent. of the value of the undisclosed asset located outside India as on the 31st March, 2026; | | (ii) | | tax at the rate of thirty per cent. of the undisclosed foreign income; and | | (iii) | | an amount equal to one hundred per cent. of tax determined in clauses (i) and (ii). |
| The aggregate value of the undisclosed asset located outside India and the undisclosed foreign income does not exceed one crore rupees. |
| 2. | | (a) | | Asset located outside India acquired from income accruing or arising outside India, by an assessee, during the period in which such assessee was a non-resident, but such assets were not declared by him in the relevant Schedule in the return of income on becoming a resident; or | | (b) | | asset located outside India acquired from income which has been offered to tax under the Income-tax Act, 1961 (43 of 1961) by the assessee, but such assets were not declared by him in the relevant Schedule in the return of income. |
| A fee of one lakh rupees. | The value of the asset located outside India does not exceed five crore rupees. |