Voluntary disclosure of income and wealth: declared assets receive conditional wealth-tax exemption but must be included in future returns. Declared undisclosed income under the Voluntary Disclosure of Income and Wealth Act, 1976 is exempt from wealth-tax up to assessment year 1975-76 if statutory conditions (income-tax payment, specified bond investment, and book adjustments) are met. Declarants must include assets in wealth-tax returns from assessment year 1976-77 and file returns if newly liable; failure may attract penalties. Commissioners shall forward statements of disclosed income to the relevant Income-tax/Wealth-tax Officer, who must confidentially verify declaration validity, ensure inclusion/assessment of assets and gains, and initiate proceedings to record declarants when warranted, while avoiding roving enquiries.