{"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":"86","heading":"Amendment of section 395","text":"Amendment of section 395. 86. In section 395 of the Income-tax Act,— (a) | in sub-section (1), for clause (c), the following clause shall be substituted, namely:— \"(c) when a certificate is issued under clause (b) or sub-section (6), as the case may be, the person responsible for paying the income or sum shall deduct the tax at the rate specified in such certificate, or deduct no income-tax, as the case may be, till its validity.\"; (b) | after sub-section (5), the following sub-section shall be inserted, namely:— \"(6) The application referred to in sub-section (1)(a) may also be filed before the prescribed income-tax authority, subject to such conditions as may be prescribed, and such authority on electronic verification of the contents of the application, may— (a) | either issue a certificate for deduction of income-tax at lower rate or no deduction of income-tax; or (b) | reject such application on account of non-fulfilment of the prescribed conditions or on account of the application being incomplete.\".","html":"<p><b>Amendment of section 395.</b></p><p><b>86.</b> In section 395 of the Income-tax Act,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in sub-section (1), for clause (<i>c</i>), the following clause shall be substituted, namely:—</td></tr><tr><td></td><td></td><td>\"(<i>c</i>) when a certificate is issued under clause (<i>b</i>) or sub-section (6), as the case may be, the person responsible for paying the income or sum shall deduct the tax at the rate specified in such certificate, or deduct no income-tax, as the case may be, till its validity.\";</td></tr><tr><td>(<i>b</i>)</td><td></td><td>after sub-section (5), the following sub-section shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>\"(6) The application referred to in sub-section (1)(<i>a</i>) may also be filed before the prescribed income-tax authority, subject to such conditions as may be prescribed, and such authority on electronic verification of the contents of the application, may—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>either issue a certificate for deduction of income-tax at lower rate or no deduction of income-tax; or</td></tr><tr><td>(<i>b</i>)</td><td></td><td>reject such application on account of non-fulfilment of the prescribed conditions or on account of the application being incomplete.\".</td></tr></table></div>","words":166,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2026/section/86/","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."}