# The Finance Act, 2026, Section 74: Amendment of section 286

- Act: The Finance Act, 2026 (Act 4 of 2026)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2026/section/74/

## Text

Amendment of section 286. 74. In section 286 of the Income-tax Act, for sub-section (2), the following sub-section shall be substituted, namely:— "(2)(a) Time limit for completion of any assessment or reassessment as provided in sub-section (1) [Table: Sl Nos. 1 to 5], in a case where reference is made to the Transfer Pricing Officer for determining the arm's length price under section 166(1), shall be extended by an additional period of twelve months. (b) In terms of provisions of sub-section (1) [Table: Sl Nos. 1 to 5] and this sub-section, the draft of the proposed order of assessment referred to in section 275 shall be made at any time up to the time limit of assessment, reassessment or recomputation referred to in the said Table and this sub-section.".

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