Non-Disclosure of Foreign Assets in ITR – Black Money Act & Tax Implications –NRIs, Returning NRIs, Resident Indians
Many NRIs (specifically Returning NRIs), Foreign Citizens (OCIs, PIOs, Others), who either returned back to India or come to India for a long duration of time, become Tax Resident in India as per Income Tax Provisions of India. Once these NRIs, Foreign Citizens become Tax Residents in India, they are liable for disclosure of Foreign … Read more