India  

Avoid Rs 10 lakh income tax penalty! Why it's important to report foreign income, assets in ITR by December 31, 2024 - check details

IndiaTimes Thursday, 19 December 2024 ()
India's tax department has clarified reporting rules for foreign income and assets. Non-disclosure invites hefty penalties under the Black Money Act, including a potential Rs 10 lakh fine and legal action.
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