Para 143 - Power to make rules

Rule-making power under the disclosure scheme covers declarations, payments, valuation, and parliamentary oversight of rules.

The Central Government may make rules by notification in the Official Gazette to carry out the provisions of the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026. The rules may prescribe the form and verification of declarations, the form and manner of orders and payment, payment intimation and communication, and the methods for calculating asset value and the amount payable under the Scheme. Every rule must be laid before both Houses of Parliament for a total period of thirty days, subject to modification or annulment, without prejudice to prior valid actions.