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Now, tax amnesty for undisclosed foreign assets
NEW DELHI: As part of efforts to get non-resident students and professionals, or those who have relocated to India, to come clean on undisclosed overseas assets and income, govt Saturday notified a new voluntary disclosure scheme for small taxpayers, who can pay an effective tax of 60% and avoid penalties and prosecution.
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economictimes.indiatimes.com
Govt opens window for disclosure of foreign assets, income
The government has opened a limited window for taxpayers to disclose specified foreign assets and income. Two routes offer eligibility thresholds of ₹1 crore and ₹5 crore, with…
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thehindubusinessline.com
Income Tax Department rolls out foreign asset disclosure scheme for small taxpayers
Income Tax Department launches a scheme for small taxpayers to disclose foreign assets up to ₹5 crore until December 2026.
