Voluntary Disclosure of Income and Wealth Act, 1976

No.8 OF 1976

Contents
Sections	Particulars
1	Short title, extent and commencement
2	Definition
3	Charge of income-tax on voluntarily disclosed income
4	Particulars to be furnished in declaration
5	Time for payment of income-tax and for investment in notified securities
6	Interest payable by declarant
7	Mode of recovery
8	Voluntarily disclosed income not to be included in the total income
9	Voluntarily disclosed income not to affect finality of completed assessments, etc
10	Income-tax in respect of voluntarily disclosed income not refundable
11	Declaration not admissible in evidence against declarant
12	Secrecy of declaration
13	Exemption from wealth-tax in respect of assets specified in declaration
14	Disclosure of income in cases of search and seizure
15	Voluntary disclosure of wealth
16	Immunity from penalty, prosecution, etc., under certain Acts
17	Applicability of certain provisions of Income-tax Act and of Chapter V of Wealth-tax Act
18	Removal of doubts
19	Power to remove difficulties
20	Power to make rules
21	Provisions of Act not to apply to certain persons
22	Repeal and saving
	Schedule

An Act to provide for voluntary disclosure of income and wealth and for matters connected therewith or incidental thereto.

Comment: This is inter alia a revenue generating legislation.

BE it enacted by Parliament in the Twenty-sixth Year of the Republic of India as follows:-