Taxpayers examining eligibility under the Rs 1-crore limit of the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 (FAST-DS 2026) face uncertainty over how to compute undisclosed foreign income. The scheme's rules…
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has dismissed the Income Tax Department's appeal in a Black Money Act case involving alleged undisclosed foreign assets of Tarun Trikha, upholding…
The government's Foreign Assets of Small Taxpayers Disclosure Scheme (FAST-DS), 2026 came into effect on 16 August and allows eligible taxpayers to declare undisclosed foreign assets and seek immunity from penalty and…
The government on 16 August opened the Foreign Assets of Small Taxpayers, Disclosure Scheme (FAST-DS) 2026, a one-time amnesty for undisclosed foreign assets and income. First announced in the Union Budget, the…
The Income Tax Department on Saturday notified the Foreign Assets of Small Taxpayers-Disclosure Scheme (FAST-DS), allowing eligible taxpayers to declare undisclosed foreign assets and income by paying an effective 60% tax. The…
The CBDT’s one-time Foreign Assets of Small Taxpayers Disclosure Scheme will accept declarations from August 16 to December 31, 2026. Eligible taxpayers can disclose certain foreign assets or income through electronic Form…
The Foreign Assets of Small Taxpayers Disclosure Scheme will open on August 16, 2026, and accept declarations until December 31, the Income Tax Department said. Asset values will be calculated as on…
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has upheld a Rs 1.86 lakh penalty under the Black Money Act against taxpayer Ashok Shankar for failing to disclose a UAE…
The Central Board of Direct Taxes has enabled taxpayers to view foreign asset information in the Annual Information Statement on the income-tax e-Filing portal. The data, received from over 100 jurisdictions under…
