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Section64
The Finance Act, 2012

Amendment of section 147

In force As on 13 Oct 2026

Ministry Finance

Section 64 of the Finance Act, 2012 deals with amendment of section 147. Amendment of section 147. 64. In section 147 of the Income-tax Act, with effect from the 1st day of July, 2012— (i) after the first proviso, the following proviso shall be inserted, namely:— "Provided further that nothing contained in the first proviso shall apply in a case where any income in relat

Amendment of section 147.

64. In section 147 of the Income-tax Act, with effect from the 1st day of July, 2012—

(i) after the first proviso, the following proviso shall be inserted, namely:—

"Provided further that nothing contained in the first proviso shall apply in a case where any income in relation to any asset (including financial interest in any entity) located outside India, chargeable to tax, has escaped assessment for any assessment year:";

(ii) in the second proviso, for the words "Provided further", the words "Provided also" shall be substituted;

(iii) in Explanation 2,—

(I) after clause (b), the following clause shall be inserted, namely:—

"(ba) where the assessee has failed to furnish a report in respect of any international transaction which he was so required under section 92E;".

(II) after clause (c), the following clause shall be inserted, namely:—

"(d) where a person is found to have any asset (including financial interest in any entity) located outside India.";

(iv) after Explanation 3, the following Explanation shall be inserted, namely:—

"Explanation 4.—For the removal of doubts, it is hereby clarified that the provisions of this section, as amended by the Finance Act, 2012, shall also be applicable for any assessment year beginning on or before the 1st day of April, 2012.".

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Section 64, The Finance Act, 2012.

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. Income-tax Act s. 147 Income escaping assessment

Questions about Section 64

What does Section 64 of the Finance Act deal with?

Section 64 of the Finance Act is headed "Amendment of section 147". Amendment of section 147. 64. In section 147 of the Income-tax Act, with effect from the 1st day of July, 2012— (i) after the first proviso, the following proviso shall be inserted, namely:— "Provided further that nothing contained in the first proviso shall apply in a case where any income in relat

How do I find court cases under Section 64 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2012 64, section 64 Finance Act 2012, section 64 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 64 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 147 (Income escaping assessment), so none of them can safely be read on its own.

When was the Finance Act enacted?

Finance Act was enacted in 2012. India Code records no commencement date for it. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. 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. This page is not a substitute for legal advice.