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...
Income Tax Department launches nationwide verification of suspicious foreign remittancesThe Income Tax Department has launched a nationwide verification exercise into suspicious foreign remittances after identifying several ent...
India opens tax amnesty scheme for small taxpayers to declare select foreign assetsIndia's tax amnesty scheme for small taxpayers opened Sunday and runs until December 2026. This one-time measure aims to bring undeclared f...
Govt opens tax disclosure window for foreign assets, incomeThe government has opened a limited window for taxpayers to disclose specified foreign assets and income. Two routes offer eligibility thre...
How should my NRI children disclose gifts received from relatives in ITR-2?ET Wealth Reader's Query: My two NRI children are unable to find a field in ITR-2 to disclose gifts received from relatives. The Income Tax...
RBI asks banks to clear old trade and payment mismatchesThe RBI has asked banks to resolve long-pending mismatches between trade and payment records worth thousands of crores. Banks must verify d...
EPFO Amnesty 2026 Scheme for PF trusts: Eligibility, benefits, application process and key rulesThe Employees' Provident Fund Organisation introduced a six-month Amnesty Scheme in 2026. This initiative allows employers to regularize th...
Exempted Trust under EPFO may regularise their status under Amnesty Scheme, 2026, says the retirement fund bodyThe Employees' Provident Fund Organisation has launched a new amnesty scheme for provident fund trusts. This one-time opportunity allows ex...
Inside Oyo’s FY26 profit; Gaming founders seek GST reprieveOyo parent Prism, which filed its updated IPO papers, reported a strong profit in the April-December period, courtesy of an unlikely source...
Gaming founders appeal to GST Council for personal liability relief after Supreme Court rulingReal money gaming founders are urging the GST Council to shield them from personal tax liabilities and offer amnesty on past dues following...
ITR filing 2026: Foreign income and overseas assets? Avoid these 7 costly disclosure mistakesReturning Indians face new tax filing complexities. Foreign retirement accounts now necessitate the more detailed ITR-2, moving away from t...
Delhi govt plans one-time tax amnesty scheme to settle pre-GST disputesThe Delhi government is preparing to launch a one-time tax amnesty scheme to settle pre-GST disputes related to VAT, excise, and service ta...
Budget 2022: Is there another tax amnesty scheme?To find a way around, governments usually announce an "income-tax amnesty scheme" whereby tax defaulters are given the opportunity to decla...
TARC not in favour of tax amnesty to unearth black moneyHeaded by tax expert Parthasarthi Shome, the TARC has recommended that taxpayers should not be encouraged through tax amnesty schemes.
Service tax amnesty scheme VCES yields Rs 1,500 crore in revenueGovt aims to collect Rs 1.80 lakh crore in service tax in the current fiscal and the FM has been encouraging assessees to utilise the schem...
- Tax amnesty schemes makes sense
It makes sense to be pragmatic on some well-designed tax amnesty schemes.
- Govt mulls tax amnesty scheme
Amid mounting pressure to crack down on black money, the revenue department is contemplating a scheme to unearth such funds.