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UNDISCLOSED FOREIGN PROPERTIES
Rs 1.09 crore remittance sent home by an Indian working in Kuwait, but he didn't file ITR, received income tax notice; gets relief in ITAT AhmedabadIndian man working in Kuwait oilfields, got his salary in National Bank of Kuwait, remitted Rs 1.09 crore back to family in India, files no...11 Sep, 2026, 12.15 PM IST- 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...10 Sep, 2026, 02.17 PM IST
- Land(ing) in trouble: ₹8,500 cr property deals under taxman's scannerTransactions were either not reported, were undervalued or had suspected benami ownership; deals span bulk land purchases, agri land & othe...01 Sep, 2026, 01.13 AM IST
- Rupee slide, valuation rules put foreign asset disclosure scheme out of reach for manyThe rupee's depreciation and strict valuation rules hinder foreign income disclosure. A one-time voluntary disclosure window allows regular...26 Aug, 2026, 11.52 PM IST
- 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 ...25 Aug, 2026, 03.32 PM IST
- 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...24 Aug, 2026, 11.22 AM IST
- Income tax dept has identified suspicious entities that sent money abroad, launches verification drive; Know what to doBased on ground intelligence and analysis of data, Income tax dept Income tax dept has identified suspicious entities who sent money abroad...19 Aug, 2026, 11.24 AM IST
- Foreign Asset Disclosure Scheme 2026: From budget proposal to rollout - what residents and NRIs need to knowThe Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 has moved from Budget proposal to implementation. This article explains its t...19 Aug, 2026, 10.44 AM IST
- 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...19 Aug, 2026, 06.51 AM IST
- 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...15 Aug, 2026, 12.02 PM IST
- 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...15 Aug, 2026, 10.07 AM IST
- Income tax dept launches portal for online filing of info about tax evasion, benami propertiesThe facility allows for the filing of complaints by persons who are existing PAN/Aadhaar holders as well as for persons having no PAN /Aadh...12 Jan, 2021, 09.42 PM IST
- Enforcement Directorate seizes posh Mumbai assets worth over Rs 32 crore in FEMA probeThe FEMA probe revealed that Jaya Patel of Mumbai had "illegally amassed" properties in foreign countries like the United States of America...11 Apr, 2020, 02.26 PM IST
- Be an informer to income tax department, earn up to Rs 5 croreThis reward scheme is aimed at encouraging people to give info about benami transactions and properties as well as income earned on such pr...01 Jun, 2018, 04.47 PM IST
- Income-Tax Department asks Karti P Chidambaram details of ‘undisclosed’ UK propertyThe son of former finance minister P Chidambaram rubbished the charge, and said he had disclosed the details of the asset in his tax return...21 Aug, 2017, 12.46 AM IST
- Government issues order to attach Rs 18,866 cr properties under PMLAUnder the Income Declaration Scheme (IDS), the government has received 64,275 declarations disclosing undisclosed income of Rs 65,250 crore.18 Nov, 2016, 03.59 PM IST
- Black money law: Foreign property to be taxed at current priceIndians having undisclosed property abroad will have to pay tax and penalty on the basis of the current market value of the asset.22 Mar, 2015, 12.57 PM IST
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