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30,000 Indian Taxpayers Declare Foreign Assets Worth Over ₹29,000 Crore

By BPN News Desk March 6, 2025
Economy National
In a significant development, approximately 30,000 Indian taxpayers have declared foreign assets totaling over ₹29,000 crore, according to sources. This substantial disclosure underscores the growing compliance with the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax
Economy National

Income Tax Department Warns of ₹10 Lakh Penalty for Undisclosed Foreign Asset

By BPN News Desk November 18, 2024
The Income Tax (I-T) Department has launched a compliance and awareness campaign urging taxpayers to disclose any foreign assets or income earned from abroad in their Income Tax Return (ITR) for the assessment year 2024-25. Failure to comply could result in a hefty penalty of ₹10 lakh under the Black Money (Undisclosed Foreign Income and […]

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