Amendment of section 478
Section 113 of the Finance Act, 2026 deals with amendment of section 478. Amendment of section 478. 113. In section 478 of the Income-tax Act, for sub-sections (1) and (2), the following sub-sections shall be substituted, namely:— "(1) | If a person wilfully attempts in any manner to evade any tax, penalty or interest chargeable or imposable, or under-reports his income,
Amendment of section 478.
113. In section 478 of the Income-tax Act, for sub-sections (1) and (2), the following sub-sections shall be substituted, namely:—
"(1) If a person wilfully attempts in any manner to evade any tax, penalty or interest chargeable or imposable, or under-reports his income, under this Act, he shall be punishable—
(a) with simple imprisonment for a term up to two years, or with fine, or with both, where the amount sought to be evaded or tax on under-reported income exceeds fifty lakh rupees; or (b) with simple imprisonment for a term up to six months, or with fine, or with both, where the amount sought to be evaded or tax on under-reported income exceeds ten lakh rupees but does not exceed fifty lakh rupees; or (c) with fine, in any other case.
(2) If a person wilfully attempts in any manner to evade payment of any tax, penalty or interest under this Act, he shall be punishable— Section 113, The Finance Act, 2026 (Act 4 of 2026).
(a) with simple imprisonment for a term up to two years, or with fine, or with both, where the amount sought to be evaded exceeds fifty lakh rupees; or (b) with simple imprisonment for a term up to six months, or with fine, or with both, where the amount sought to be evaded exceeds ten lakh rupees but does not exceed fifty lakh rupees; or (c) with fine, in any other case.".
Questions about Section 113
What does Section 113 of the Finance Act deal with?
Section 113 of the Finance Act is headed "Amendment of section 478". Amendment of section 478. 113. In section 478 of the Income-tax Act, for sub-sections (1) and (2), the following sub-sections shall be substituted, namely:— "(1) | If a person wilfully attempts in any manner to evade any tax, penalty or interest chargeable or imposable, or under-reports his income,
How do I find court cases under Section 113 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 2026 113, section 113 Finance Act 2026, section 113 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
When was the Finance Act enacted?
Finance Act was enacted in 2026 as Act 4 of 2026. 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
- First Schedule. -11686 words
- 3. Income-tax under Act 30 of 20258033 words
- Fourth Schedule. -4078 words
- 2. Income-tax under Act 43 of 19612736 words
- 26. Substitution of new sections for sections 276B, 276BB, 276C, 276CC, 276CCC and 276D1437 words
- Fifth Schedule. -1363 words
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