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FOREIGN BANK ACCOUNT DISCLOSURE
Have an inactive foreign bank account? You may still need to disclose it in your ITR for AY 2026-27Indian taxpayers must report dormant foreign bank accounts in their ITR. This requirement applies even if accounts have zero balance and no...- FCNR(B) FD interest rates for NRIs: HDFC Bank, SBI, PNB, ICICI Bank and Axis Bank- which offers highest maturity on USD depositsGovernment support for FCNR(B) deposits until September 2026 has sparked renewed investor interest. Banks are now offering higher interest ...
- ITR 2026: Common income tax return filing mistakes that cost employees lakhsA careful, timely, and well-documented filing approach can help employees avoid notices, interest, penalties, and refund delays while ensur...
- Foreign assets in AIS: CBDT sets the stage for Foreign Assets of Small Taxpayers Disclosure SchemeThe CBDT’s decision to upload foreign financial information into taxpayers’ annual information statements may be more than an administrativ...
- RBI pushes banks, NBFCs to own data risks across third partiesThe RBI has sought comments from the public by August 17 on its draft proposals titled 'Guidance on Regulatory Expectations for Data Govern...
- India's current account slips into $2 billion deficit in May as trade gap widensIndia's financial landscape shifted in May, marked by a current account deficit alongside a narrower capital account deficit. The total bal...
- SBI appoints Sunil Agrawal as chief financial officerState Bank of India has appointed Sunil Agrawal as its new Chief Financial Officer. Agrawal previously served as the Chief Financial Office...
- ICAI puts global network guidelines on hold amid concerns by big audit firmsThe Institute of Chartered Accountants of India has paused its global networking guidelines. These guidelines encouraged domestic firms to ...
- US Stock Market: Trump increased holdings in stocks and bonds despite crypto pushPresident Trump significantly boosted traditional asset holdings in 2025. His family aggressively promoted cryptocurrency ventures, which g...
- ITR 2026: Increased disclosure requirements for overseas investments and foreign assets—are Indian taxpayers ready?Indian taxpayers face new disclosure rules for foreign assets and investments. Global information exchange frameworks necessitate accurate ...
- Will filing your ITR early get you a faster income tax refund? Here's what really determines the processing timeFiling income tax returns early increases processing likelihood but does not guarantee faster refunds. Successful e-verification and matchi...
- Elderly man goes to bank to collect his Rs 1100 pension , balance of Rs 760 crore leaves everyone shocked. Watch videoA viral video shows an elderly man discovering a massive bank balance. He visited a bank to withdraw his monthly pension of Rs 1,100. The b...
- ED sends letters rogatory abroad, seeks info on foreign operativesThe Enforcement Directorate is investigating a sophisticated transnational cyber fraud network. This syndicate used mule bank accounts and ...
- Indian Bank aims to recover Rs 5,500 from bad loans during FY27: MD Binod KumarIndian Bank aims for Rs 5,500 crore bad loan recovery this financial year. The bank has already collected USD 140 million in foreign curren...
- Have foreign income or assets? AIS to soon show foreign assets and income details shared by foreign countriesThis is a CBDT order dated July 8, 2026 issued under Section 119 of the Income-tax Act, 1961. It is an administrative order that authorizes...
- 8 NRE and NRO account mistakes every NRI should avoidChoosing between an NRE and an NRO account isn't just about where you keep your money as it can affect taxation, repatriation, banking comp...
- ITR filing 2026: NRIs need to file Schedule FA in ITR to declare foreign asset for AY 2026-2027 in this caseResident and ordinarily resident individuals must report foreign assets. This disclosure is required in Schedule FA of the income tax retur...
- ICAI may pause global network guidelines to address stakeholder concernsThe Institute of Chartered Accountants of India may pause its global networking guidelines. This decision comes after significant concerns ...
- Foreign investments in your portfolio? Follow this ITR checklist to avoid tax scrutinyResident and Ordinarily Resident (ROR) taxpayers with foreign assets or income must carefully disclose overseas investments, dividends and ...
- 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...
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