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ELIGIBILITY FOR FOREIGN ASSETS SCHEME
Big relief to taxpayers with undisclosed foreign assets: CBDT notifies Foreign Assets of Small Taxpayers disclosure scheme rules; Know who can use it by December 31, 2026Good news: Save huge tax penalty as CBDT notifies Foreign Assets of Small Taxpayers disclosure scheme rules; Know who can use it by Decembe...- 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...
- 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...
- Forex reserves soar to $707 billion, highest so far in current fiscalIndia's foreign exchange reserves saw a notable increase, rising by $14.1 billion to hit a significant $707 billion. This boost included a ...
- RBI to close FCNR(B) swaps a month earlier due to gushThe Reserve Bank of India has moved the FCNR(B) deposit deadline to August 31 in response to better-than-expected foreign currency inflows....
- RBI shortens FCNR (B) deposit swap window to Aug 31The Reserve Bank of India has shortened the swap facility window for FCNR(B) deposits. This decision comes after observing higher-than-expe...
- Internship scheme aims to bridge skill gap among youth: Nirmala SitharamanThe PM Internship Scheme is designed to bridge the gap between industry requirements and the skill sets of job seekers. Recognizing a signi...
- Karnataka: Cabinet clears Sandhya Kiran cashless health scheme for pensionersKarnataka has just greenlit the Sandhya Kiran cashless healthcare scheme, set to benefit state pensioners with annual coverage of up to fiv...
- Sebi proposes asset threshold for individuals, corporates to widen accredited investor poolSebi is set to broaden the criteria for accredited investors, allowing individuals boasting securities assets of Rs 5 crore to qualify for ...
- Sebi mulls Rs 5 cr securities asset route for accredited investor status for individualsSebi has proposed an initiative to include securities-market assets as a criterion for accredited investor status. Individuals holding five...
- Income tax for senior citizens: No salary after retirement? These 7 incomes can still attract tax; know what is exemptRetirement is not synonymous with tax freedom. Your pensions, interest income, rental earnings, and capital gains may still incur taxes. It...
- Bank deposits hit decade-high growth as NRI dollar inflows cross $37 billionBank deposits saw their fastest growth in nearly ten years by July. Overseas Indians deposited about $37 billion in foreign currency accoun...
- Presumptive taxation for professionals: The 50% rule remains-but what changes for deductions and losses under the new tax Act?The 50% presumptive taxation rule for professionals largely continues under the new Income-tax Act. However, Section 58(4) introduces a wid...
- NRI selling property in India: Should sale proceeds go to an NRE or NRO account? Know repatriation limits and RBI rulesAre you an NRI looking to sell your property in India after relocating abroad? It's essential to understand the process of repatriating you...
- Amendments to FCRA aimed at safeguarding India’s sovereign rights: Italian-Canadian analystAn article in Italian geopolitical platform Formiche defended India’s proposed FCRA amendments, saying they are aimed at protecting soverei...
- Rs 20,000 crore credit guarantee plan misses the markBanks have disbursed merely seventeen percent of the credit guarantee scheme funds. Loan sanctions remain slow as banks show caution with s...
- FCRA Amendment Bill 2026: No ban on foreign funding, says India’s envoy to US as he counters ‘myths’ with ‘facts’India's proposed Foreign Contribution Regulation Amendment Bill faces opposition and questions. Former foreign secretary Vinay Mohan Kwatra...
- The Wealth Company launches GIFT City Fund to offer overseas investors India mutual fund exposureThe Wealth Company has launched an open-ended Category III AIF in GIFT City, offering eligible non-resident investors, including NRIs, a US...
- NFO Update: SBI Mutual Fund launches balanced hybrid fundSBI Mutual Fund has launched the SBI Balanced Hybrid Fund, an open-ended scheme investing in equity and debt instruments. The NFO is open u...
- RBI sells USD 14.9 bn during Jan-May to check excess volatility in rupeeIn an effort to stabilize the rupee, the Reserve Bank of India sold USD 14.9 billion. Banks are also re-engaging with defaulters to recover...
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