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BLACK MONEY ACT
Foreign bank balance may be small, but its value could be much higher: How FAST-DS 2026 values your foreign assetsA foreign bank account with a small closing balance may have a much higher value under FAST-DS 2026. This article explains how different ty...10 Sep, 2026, 02.17 PM IST- SC gives govt two weeks to file list of black money cases pending in HCsThe Supreme Court granted the government two weeks to list cases. These cases challenge provisions of the Black Money Act, including Anil A...09 Sep, 2026, 12.38 AM IST
- Returning to India from the UK? Capital gains and inheritance tax may still applyNon-resident Indians should note that leaving the UK doesn't automatically terminate tax residency. Retaining connections might keep your t...07 Sep, 2026, 11.59 AM IST
- Foreign income disclosed in ITR-U: Why it could still trigger Black Money Act - FAST-DS 2026 ParadoxFAST-DS 2026 raises an important question for taxpayers who have voluntarily disclosed foreign income through a valid ITR-U. Can such incom...04 Sep, 2026, 10.31 AM IST
- Finance Act 2026: Updated return rules change for taxpayers reporting reduced lossesThe Finance Act, 2026, has plugged a significant gap. Earlier, an updated return could not be filed if unaccounted income merely reduced a ...31 Aug, 2026, 05.35 PM IST
- Man receives $3.14 lakh from redemption of Bermuda-focused fund; Income Tax Dept considers it black money, imposes Rs 1.8 crore penalty and tax, but he wins case in ITAT DelhiIndian man working in Singapore gets $3.14 lakh from redemption of units of Bermuda focussed investment fund; Tax dept deems it black money...29 Aug, 2026, 07.53 AM IST
- Rs 2.25-crore notice under Black Money Act to Delhi couple over Singapore, British Virgin Islands assets: ITAT Delhi gave full relief to taxpayer, know whyTax officer sent black money notice to Pitampura based couple and added Rs 2.25 undisclosed money from Singapore and British Virgin Islands...28 Aug, 2026, 04.44 PM IST
- NRI can’t sell Indian property before October 1, 2026 if buyer does not have TAN; Know how to apply for TAN onlineThe TDS rulesfor NRIs say that there isno thresholdlimit for TDS deduction, whereas resident Indians get a threshold limit of Rs 50 lakh be...26 Aug, 2026, 11.22 AM IST
- Have undisclosed foreign assets or income? Know the extra tax cost if you miss FAST Scheme 2026's December 31 deadlineIndia's FAST Scheme 2026 provides a unique opportunity for taxpayers to declare foreign assets. This voluntary disclosure window closes on ...25 Aug, 2026, 03.32 PM IST
- Karol Bagh man had foreign bank accounts, FD in Singapore, no ITR disclosure; income tax dept sent black money notice, but ITAT Delhi cancelled the notice for this reasonBlack money notice sent to man with Singapore FD and current bank a/c in his name and no ITR declaration; Know how he won case in ITAT Delh...24 Aug, 2026, 04.14 PM IST
- Missed reporting of overseas bank accounts, ESOPs, and foreign assets in Schedule FA of ITR? FAST-DS offers a chance to come cleanThere is an important caveat: the Black Money Act provides relief from Schedule FA penalty for certain foreign assets, other than immovable...24 Aug, 2026, 11.22 AM IST
- Foreign Asset Disclosure Scheme 2026: From budget proposal to rollout - what residents and NRIs need to knowThe Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 has moved from Budget proposal to implementation. This article explains its t...19 Aug, 2026, 10.44 AM IST
- NRI bought life insurance policy in Dubai from a foreign insurer, got maturity proceeds after returning to India, his claim for tax exemption was denied; he won the case in ITAT for this reasonAn Indian resident successfully challenged the tax department's claim of undisclosed foreign income on maturity proceeds from a Dubai life ...18 Aug, 2026, 07.00 AM IST
- Foreign Assets Disclosure Scheme 2026: ₹1 crore limit, 30% tax and December 31 deadline — all you need to knowA new government scheme will open on August 16, 2026, for taxpayers to disclose foreign assets. This one-time voluntary disclosure scheme c...15 Aug, 2026, 12.02 PM IST
- Man did not disclose UAE bank account and foreign shares in ITR, I-T dept imposed Rs 1.86 lakh penalty; He escalates the case but ITAT Delhi offers no reliefDubai connection: Man claimed friend sent money to Dubai Emirates NBD bank a/c to start business but didn't disclose foreign assets in Sche...12 Aug, 2026, 11.03 AM IST
- Relaxation in conditions for prosecution under the Black Money Act for these taxpayers: Budget 2026 announcementThe Black Money Act, 2015, imposes penalties and prosecution for wilful non-disclosure of foreign income and assets. Amendments are propose...01 Feb, 2026, 03.34 PM IST
- Blackmoney: RBI invites applications for regularisation of declared wealthA person resident in India who has declared any asset under Black Money Act & intends to hold them is required to make an application to RB...10 Feb, 2016, 10.22 PM IST
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