5 days, 16 hours ago
Own foreign assets or income? Disclose now to avoid Rs 10 lakh penalty
India TodayFailing to disclose foreign income and assets can land taxpayers in double trouble under both the Income Tax Act and the Black Money Act. STEPS FOR FILING AND DEADLINES Taxpayers must declare foreign income and assets in the applicable ITR for the assessment year they were a resident in India. Disclosing foreign income and assets not only ensures compliance with Indian tax laws but also avoids double taxation under international agreements. Taxpayers should take this opportunity to file accurate returns and align with both the Income Tax Act and the Black Money Act.
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History of this topic
4 weeks, 1 day ago
Choose correct ITR to report foreign assets; 2 lakh such returns filed: CBDT official
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4 weeks, 1 day ago
Income tax department advises taxpayers to carefully review their foreign income, assets in ITR
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1 month ago
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1 month ago
Missed reporting foreign assets in ITR? File revised return to avoid Rs 10 lakh penalty | DETAILS
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1 month ago
Income tax department warns: ‘Declare foreign assets or pay ₹10 lakh penalty’
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1 month ago
Failure to disclose foreign assets, income to invite ₹10 lakh penalty: I-T dept
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4 months, 4 weeks ago
Amendments in Black Money Act to remove penalty on undisclosed foreign assets worth ₹20 lakh: CBDT chief
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1 year, 2 months ago
Income Tax Return: Failure to declare foreign shares, investments, or assets can lead to a penalty of Rs 10 lakh
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1 year, 8 months ago
Relevancy Of Assessment Year For Taxing Foreign Assets And Income Under The Black Money Act
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2 years, 5 months ago
Taxpayers must be vigilant about the details in ITR
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2 years, 6 months ago
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3 years ago
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