Declaration of undisclosed income

Q: When was Section 183 of the Finance Act enacted?

Section 183 of the Finance Act, cited as Finance Act 2016 183, was enacted on 27 Jun 2016. It is in force as at the date shown on this page.

In force As on 07 Oct 2026

Ministry Finance Enacted 27 Jun 2016 Cited by 10 provisions

Section 183 of the Finance Act, 2016 deals with declaration of undisclosed income. Declaration of undisclosed income. 183 . (1) Subject to the provisions of this Scheme, any person may make, on or after the date of commencement of this Scheme but before a date to be notified* by the Central Government in the Official Gazette, a declaration in respect of any income chargeable to ta The Act was enacted on 27 Jun 2016.

Declaration of undisclosed income.
183 .
(1) Subject to the provisions of this Scheme, any person may make, on or after the date of commencement of this Scheme but before a date to be notified* by the Central Government in the Official Gazette, a declaration in respect of any income chargeable to tax under the Income-tax Act for any assessment year prior to the assessment year beginning on the 1st day of April, 2017—
(a) for which he has failed to furnish a return under section 139 of the Income-tax Act;
(b) which he has failed to disclose in a return of income furnished by him under the Income-tax Act before the date of commencement of this Scheme;
(c) which has escaped assessment by reason of the omission or failure on the part of such person to furnish a return under the Income-tax Act or to disclose fully and truly all material facts necessary for the assessment or otherwise.
(2) Where the income chargeable to tax is declared in the form of investment in any asset, the fair market value of such asset as on the date of commencement of this Scheme shall be deemed to be the undisclosed income for the purposes of sub-section (1).
(3) The fair market value of any asset shall be determined in such manner, as may be prescribed.
(4) No deduction in respect of any expenditure or allowance shall be allowed against the income in respect of which declaration under this section is made.
* 30-9-2016
Section 183, The Finance Act, 2016.

Cross-references

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

This section refers to

Income-tax Act s. 139 Return of income

Referred to by 10

Questions about Section 183

What does Section 183 of the Finance Act deal with?

Section 183 of the Finance Act is headed "Declaration of undisclosed income". Declaration of undisclosed income. 183 . (1) Subject to the provisions of this Scheme, any person may make, on or after the date of commencement of this Scheme but before a date to be notified* by the Central Government in the Official Gazette, a declaration in respect of any income chargeable to ta

How do I find court cases under Section 183 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 2016 183, section 183 Finance Act 2016, section 183 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 183 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 139 (Return of income), so none of them can safely be read on its own. 10 other provisions in this corpus refer back to it.

When was Section 183 of the Finance Act enacted?

Section 183 of the Finance Act, cited as Finance Act 2016 183, was enacted on 27 Jun 2016. It is in force as at the date shown on this page.

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(a)		for which he has failed to furnish a return under section 139 of the Income-tax Act;
(b)		which he has failed to disclose in a return of income furnished by him under the Income-tax Act before the date of commencement of this Scheme;
(c)		which has escaped assessment by reason of the omission or failure on the part of such person to furnish a return under the Income-tax Act or to disclose fully and truly all material facts necessary for the assessment or otherwise.