Amendment of section 484
Section 118 of the Finance Act, 2026 deals with amendment of section 484. Amendment of section 484. 118. In section 484 of the Income-tax Act, for the long line, the following long line shall be substituted, namely:— "he shall be punishable— (i) | with simple imprisonment for a term up to two years, or with fine, or with both, where the amount of tax, penalty or interest
Amendment of section 484.
118. In section 484 of the Income-tax Act, for the long line, the following long line shall be substituted, namely:—
"he shall be punishable— Section 118, The Finance Act, 2026 (Act 4 of 2026).
(i) with simple imprisonment for a term up to two years, or with fine, or with both, where the amount of tax, penalty or interest which would have been evaded, if the declaration, account or statement had been accepted as true, or which is wilfully attempted to be evaded, exceeds fifty lakh rupees; or (ii) with simple imprisonment for a term up to six months, or with fine, or with both, where the amount of tax, penalty or interest which would have been evaded, if the declaration, account or statement had been accepted as true, or which is wilfully attempted to be evaded, exceeds ten lakh rupees but does not exceed fifty lakh rupees; or (iii) with fine, in any other case.".
Questions about Section 118
What does Section 118 of the Finance Act deal with?
Section 118 of the Finance Act is headed "Amendment of section 484". Amendment of section 484. 118. In section 484 of the Income-tax Act, for the long line, the following long line shall be substituted, namely:— "he shall be punishable— (i) | with simple imprisonment for a term up to two years, or with fine, or with both, where the amount of tax, penalty or interest
How do I find court cases under Section 118 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 118, section 118 Finance Act 2026, section 118 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
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.