Tax Guru

Foreign Asset Reporting: Must for NRIs (ROR)

Learn why returning NRIs must file the FA Schedule, what assets to report, and how compliance protects against penalties under Indian tax ...

Foreign asset schedules missing in revised ITR after filing ITR-1/4? I-T dept explains solution

Many taxpayers revising their Income Tax Returns this year are hitting an unexpected snag. Details of foreign assets or ...
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ITR Filing: Do you have foreign accounts, assets, or income? Here's why you need to mention this information in your income tax return filing

Under the watchful eye of the Indian Income Tax Act 1961, Indian residents who have been international players in the fiscal year have a distinct obligation. Each and every foreign bank account, ...

CBDT's new 'NUDGE' on foreign assets: Why taxpayers should pay attention

International agreement on data sharing allows government to flag overseas assets missing from tax returns filed ...

I-T flags 25,000 ITRs with foreign-asset gaps: here's what happens next

PTI reported that the department has categorised these individuals as high-risk based on information received under the Automatic Exchange of Information (AEOI) framework. The alerts advise taxpayers ...

Filed ITR-1 or ITR-4 but now can’t find schedule foreign assets' information in revised form, here’s what you should do

Many taxpayers face issues with missing foreign asset and income details in revised Income Tax Returns. If a taxpayer has any ...