The Income Tax Department has notified the income tax return (ITR) forms for the financial year 2024-25 (assessment year 2025-26). This year's ITR forms have been updated to incorporate the income-tax ...

This guide explains that disclosure under Schedule FA is mandatory, even for zero-income foreign accounts or unsold RSUs. Following calendar-year reporting and proper documentation helps avoid ...

Indian ROR taxpayers must disclose all foreign assets and interests in Schedule FA, even if non-taxable abroad. Non-compliance can trigger strict penalties under the Black Money Act, though a ₹20 lakh ...