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FAST-DS 2026: Have undisclosed overseas crypto assets? Know the ₹1 crore and ₹5 crore threshold rules before you discloseIf you're managing cryptocurrency on international exchanges without disclosing them in India, the Foreign Assets of Small Taxpayers – Disc...- Rs 67 lakh ancestral jewellery declaration in ITR triggers income tax notice of unexplained credit: Here's why lady won at ITAT MumbaiWife filed Schedule AL in ITR for first time and got hit with unexplained credit income tax notice for ancestral family jewellery worth Rs ...
- Rs 1 crore foreign asset limit under FAST-DS 2026: What taxpayers must know about undisclosed incomeFAST-DS 2026 prescribes detailed rules for valuing foreign assets, but how should undisclosed foreign income be computed for the ₹1-crore l...
- 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...
- 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 ...
- 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...
- 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...
- UK based employee sold ESOP worth Rs 26 lakh, declared Rs 1 lakh short-term capital loss, Income Tax dept treated it as unexplained gains; He fights and wins case in ITAT MumbaiUK-based Indian employee sold 1,540 L&T Infotech shares for Rs 26 lakh which he had acquired through ESOPs, declared Rs 1 lakh short-term c...
- 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...
- I-T dept to soon notify modified valuation rules, investor classes for taxing foreign investments in unlisted cosThe Income Tax Department will soon notify rules specifying the class of investors and norm of valuation for implementation of the Budget p...
- I-T dept to come out with modified valuation norms for taxing foreign investments in unlisted cosThe Finance Bill, 2023 has proposed amending Section 56(2)(viib) of the I-T Act, thereby bringing overseas investment in unlisted closely h...
- What is 1% TDS on crypto trade and how will it impact you?While the industry players see this move as one of the most controversial provisions over the crypto taxations, the government believes tha...
- Key takeaways from newly notified anti-abuse rules for tax valuation of slump saleThough seemingly well intentioned, the FMV Rules for slump sale had the potential to create enormous uncertainty for taxpayers if they were...
- How to calculate LTCG on equity mutual funds after re-categorisationWhen a scheme is merged, you will not be taxed on the long and short term gains you will make whenever you will sell the units. Further, me...
- Unlisted ESOP shares may face higher LTCG tax post listingLack of clarity in budget proposals muddles outcome for employees after listings as ESOPs are a useful tool for hiring talent, especially f...
- How proposed tax on long-term capital gains will be calculated for bonus, rights issue sharesAs per the FAQs on LTCG, FMV will be taken into account for the purpose of calculation of cost of acquisition to compute tax on bonus and r...
- Taxability of Esops for globe trotting staff not clearOur expert Vikas Vasal, Executive Director, KPMG offers tips on various tax-related issues.
- Keep in mind valuation rules while gifting propertyOur Expert offers tips on various tax-related issues in this weekly Column.
- CBDT tags gifts for taxationIt's time you looked that gift horse in the mouth, or so the new valuation rules decree.
- FBT maths adds relief to unlisted firms ESOPIn case, the company is not listed, FMV will be the value of share determined by a merchant banker and would be valid for 180 days. Copycat...
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