ITR return: How to report foreign income in tax return?

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ITR return: How to report foreign income in tax return?

Under this legislation, individuals with foreign assets or income must file their Income Tax Return (ITR) accurately and on time.

The enactment of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (commonly known as the 'Black Money Act') has emphasised the duty of Indian residents to declare their foreign assets and income.

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Category: BusinessFinance

Markets: India

Topics: Foreign Income ITR2 Tax relief India tax ITR ITR3 Foreign Assets Tax return Double taxation

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-15 @ 15:39:48 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 546 words

Reading Time: 4 minutes read

Sentences: 25 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21626002

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About Business Standard

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 292 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 5 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

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Publisher ID: #49

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