{"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":"143","heading":"Power to make rules","text":"Power to make rules. 143. (1) The Central Government may, by notification in the Official Gazette, make rules for carrying out the provisions of this Scheme. (2) Without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:— (a) | the form in which a declaration may be made and the manner of its verification under sub-section (1) of section [134]; (b) | the form and manner in which order shall be passed under sub-section (1) of section [135]; (c) | the manner of making payment under sub-section (2) of section [135]; (d) | the form and manner of intimation of payment under sub-section (4) of section [135]; (e) | the form and manner in which the order certifying the payment shall be communicated under sub-section (5) of section [135]; (f) | the manner of calculating the value of the asset under this Scheme; (g) | the manner of calculating the amount payable under this Scheme; (h) | any other matter which is to be, or may be, prescribed, or in respect of which provision is to be made, by rules for carrying out the provisions of this Scheme. (3) Every rule made by the Central Government under this Scheme shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days, which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule.","html":"<p><b>Power to make rules.</b></p><p><b>143.</b> (1) The Central Government may, by notification in the Official Gazette, make rules for carrying out the provisions of this Scheme.</p><p><span class=\"num\">(2)</span> Without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>the form in which a declaration may be made and the manner of its verification under sub-section (1) of section [<i>134</i>];</td></tr><tr><td>(<i>b</i>)</td><td></td><td>the form and manner in which order shall be passed under sub-section (1) of section [<i>135</i>];</td></tr><tr><td>(<i>c</i>)</td><td></td><td>the manner of making payment under sub-section (<i>2</i>) of section [<i>135</i>];</td></tr><tr><td>(<i>d</i>)</td><td></td><td>the form and manner of intimation of payment under sub-section (4) of section [<i>135</i>];</td></tr><tr><td>(<i>e</i>)</td><td></td><td>the form and manner in which the order certifying the payment shall be communicated under sub-section (5) of section [<i>135</i>];</td></tr><tr><td>(<i>f</i>)</td><td></td><td>the manner of calculating the value of the asset under this Scheme;</td></tr><tr><td>(<i>g</i>)</td><td></td><td>the manner of calculating the amount payable under this Scheme;</td></tr><tr><td>(<i>h</i>)</td><td></td><td>any other matter which is to be, or may be, prescribed, or in respect of which provision is to be made, by rules for carrying out the provisions of this Scheme.</td></tr></table></div><p><span class=\"num\">(3)</span> Every rule made by the Central Government under this Scheme shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days, which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule.</p>","words":335,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2026/section/143/","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."}