Foreign Asset Amnesty Scheme 2026 for returned NRIs, Small Business Owners, Overseas Students & Professionals – Eligibility, Tax Calculation & Immunity from Black Money Act

Foreign Asset Amnesty Scheme 2026 for NRIs with calculator, pen and financial documents representing tax calculation and compliance under Black Money Act

Background Under the prevailing law, there is a requirement of reporting foreign income and assets in the ITR by Resident tax payer. Under Black Money Act 2015 (for more read https://www.nritaxservice.in/blog/2024/03/05/nris-black-money-act-implications), there are stringent penal provisions for non-compliance with such reporting. Many taxpayers had unknowingly defaulted with these reporting provisions. Income tax department have received … Read more

4 Tax Planning Tips for Salaried People

4 Tax Planning Tips for Salaried People

Minimizing tax liability is the prime concern of the taxpayers by the time the tax planning session starts. It is something very much common to notice that the salaried people are paying more taxes than they are obliged to pay. It is the lack of knowledge and improper tax-planning exercise that arises such kind of … Read more