Avoid Rs 10 lakh income tax penalty! Why it's important to report foreign income, assets in ITR by December 31, 2024 - check details

India's tax department has clarified reporting rules for foreign income and assets. Non-disclosure invites hefty penalties under the Black Money Act, including a potential Rs 10 lakh fine and legal action.

Dec 19, 2024 - 15:00
Avoid Rs 10 lakh income tax penalty! Why it's important to report foreign income, assets in ITR by December 31, 2024 - check details

Join our WhatsApp Community to receive travel deals, free stays, and special offers!
- Join Now -

Join our WhatsApp Community to receive travel deals, free stays, and special offers!
- Join Now -

India's tax department has clarified reporting rules for foreign income and assets. Non-disclosure invites hefty penalties under the Black Money Act, including a potential Rs 10 lakh fine and legal action.
Read More