Declaration of undisclosed income enables voluntary disclosure through specified entities, taxable and ineligible for deductions. Declaration of undisclosed income allows a person to declare cash or deposits with a specified entity for eligible past assessment years within a government-notified period; specified entity covers the Reserve Bank of India, banks and cooperative banks regulated under the Banking Regulation Act, Head and Sub-Post Offices, and other notified entities. Income so declared is taxable under the Income-tax Act and is not eligible for any deduction, allowance or set-off of loss against the declared amount.