Black Money Act
Latest news, explainers and analysis on Black Money Act. Tracking 2 stories on Arth Vani.
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Latest on Black Money Act
BreakingIncome Tax Dept Launches Foreign Assets Report: How to Check Your Overseas Holdings
The Income Tax Department has introduced a new 'Foreign Assets Information' report on the e-filing portal to help taxpayers track overseas financial data. This tool allows individuals to verify information received from foreign jurisdictions under automatic exchange agreements before filing their returns.
BreakingFiling ITR-2: Mandatory Rules for Indians with Foreign Assets or Overseas Income
Resident Indian taxpayers holding foreign bank accounts, stocks, or properties must file ITR-2 by July 31. Failure to disclose these assets under the mandatory schedules can lead to heavy penalties under the Black Money Act.
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