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FOREIGN ASSETS AMNESTY
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...
- 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...
- 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...
- Failed to report US stocks gained via ESOP? Use this one-time Amnesty scheme; Know how it worksA one-time amnesty scheme, the FAST-DS, has been introduced to help Indian residents and NRIs resolve past non-compliance with reporting fo...
- Undisclosed foreign assets? Budget 2026 offers a 6-month amnesty—here’s how to avoid jail
- Budget offers one-time amnesty for undisclosed foreign assets held by individualsA six-month mini amnesty window allows individuals to declare undeclared foreign assets acquired with disclosed earnings for a fee. This in...
- Enforcement Directorate attaches assets worth Rs 1.54-crore in money laundering case against Amnesty IndiaThe probe agency has issued the order against the trust -- Indians for Amnesty International Trust (IAIT) -- in connection with a case link...
- Pakistan's amnesty scheme pulls in Rs 80 billion in taxNearly 5,000 people in Pakistan have filed returns declaring their foreign assets and deposited approximately Rs 80 billion in taxes so far...
- Pak PM offers major tax amnesty scheme ahead of pollsFixed assets will incur a 3 per cent penalty, to be evaluated at the market value of the asset, which cannot be less than the cost of its a...
- Modi-like amnesty scheme may help Pakistan attract billions in investmentPakistanis hold $150 bn in undeclared offshore assets, including $80 bn in property.
- IDS 'major success' vis-a-vis VDIS: Finance Minister Arun Jaitley"In view of the above (comparative data), it can be inferred that IDS, 2016 has been a major success vis-a-vis VDIS, 1997," he said.
- Black money haul: Rs 65,250 crore disclosed through Income Declaration SchemeA total of 64,275 disclosures were made from which Rs 65,250 crore was declared under Income Declaration Scheme.
- Budget 2016: Amnesty-like scheme for domestic black money holdersThe government today offered domestic holders of undisclosed income and assets a one-time compliance opportunity to escape prosecution.
- One-time short window for declaring assets abroad: Revenue Secretary Shaktikanta DasDas was elaborating upon FM Arun Jaitley's budget proposal to come out with a stringent law to deal with the black money stashed abroad.
- Black money holders will have a last chance to disclose assets: GovernmentJayant Sinha said the failure to unveil assets abroad will invite a rigorous jail term of up to seven years.
- Black money holders will have a last chance to disclose assetsElaborating on the proposed legislation, Jayant Sinha said the concealment of income and tax evasion could result in imprisonment of up to ...
- Union Budget 2012 makes it mandatory for taxpayer to declare foreign bank accounts & other offshore assetsThe US had offered immunity from prosecution to those who have disclosed such income within the period specified under the law.
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