{"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":"75","heading":"Amendment of section 295","text":"Amendment of section 295. 75. In section 295 of the Income-tax Act, in sub-section (2), after clause (b), the following clauses shall be inserted, namely:— \"(c) where the undisclosed income of the other person pertains only to the period— (i) | commencing from the tax year (herein referred to as the specified year) immediately preceding the year of initiation of search or requisition; and (ii) | ending on the date of initiation of search or making of requisition, then irrespective of the provisions of section 301(a), the block period in respect of such other person shall comprise of the specified year and the period starting from the 1st April of the tax year in which search was initiated or requisition was made and ending on the date of the execution of the last of the authorisations for such search or such requisition; (d) where the undisclosed income of the other person pertains to a single tax year out of the five tax years preceding the specified year, then irrespective of the provisions of section 301(a), the block period in respect of such other person shall comprise of only that single tax year.\".","html":"<p><b>Amendment of section 295.</b></p><p><b>75.</b> In section 295 of the Income-tax Act, in sub-section (2), after clause (<i>b</i>), the following clauses shall be inserted, namely:—</p><p>\"(<i>c</i>) where the undisclosed income of the other person pertains only to the period—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>commencing from the tax year (herein referred to as the specified year) immediately preceding the year of initiation of search or requisition; and</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>ending on the date of initiation of search or making of requisition,</td></tr></table></div><p>then irrespective of the provisions of section 301(<i>a</i>), the block period in respect of such other person shall comprise of the specified year and the period starting from the 1st April of the tax year in which search was initiated or requisition was made and ending on the date of the execution of the last of the authorisations for such search or such requisition;</p><p>(<i>d</i>) where the undisclosed income of the other person pertains to a single tax year out of the five tax years preceding the specified year, then irrespective of the provisions of section 301(<i>a</i>), the block period in respect of such other person shall comprise of only that single tax year.\".</p>","words":192,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2026/section/75/","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."}