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Foreign Asset Non-Disclosure Triggers ₹10 Lakh Penalty Risk: Income Tax Dept urges AY 2025-26 ITR Revision by Dec 31

Recently, the Income Tax Department has begun issuing targeted emails to taxpayers flagged for potential non-disclosure of foreign assets in their...

CBDT Increases Exemption Limit to ₹20 Lakh for Undisclosed Foreign Assets [Read Instruction]

CBDT Launches Compliance-Awareness Campaign for AY 2024-25 to help Income Taxpayers in Reporting...

Income Tax - Income Tax Return - ITR - taxscan

ITR-on-time or Jail Time? Know the Penalties for Non-Filing of Income Tax Returns

Income Tax Department - Searches in Mumbai - taxscan

Income Tax Department conducts Searches in Mumbai

Income Tax Searches lead to Detection of Undisclosed Foreign Assets of more than Rs. 1000 crore

Taking forward the mission of the Government against black money, particularly undisclosed foreign assets, the Income Tax Department conducted searches on 19th January 2020, on a group that has been...

Income Tax Department detects Foreign Assets in recent search

The Income Tax Department conducted searches on 23rd July, 2019 in a group covering 13 premises across 3 States (Delhi, Haryana & Himachal Pradesh). The group, controlled by persons who have...

Income Tax Returns, PAN, Foreign Assets Details mandatory for Lok Sabha Election Candidates [Read Notification]

The Government, in order to bring more accountability and transparency in the election process and to make easy verification of the candidates details, mandated that the candidates of election shall...