The Hindu National · DistrictNews · 2026-08-15
Government rolls out foreign asset disclosure scheme for small taxpayers
Taxpayers will pay a 30% tax on the value of the declared undisclosed foreign asset or income, plus an additional amount equal to the tax, effectively taking the levy to 60% The government introduces a foreign asset disclosure scheme for small taxpayers, allowing voluntary declarations with a 60% tax. Government rolls out foreign asset disclosure scheme for small taxpayers
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