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foreign assets disclosure

Small taxpayers, big relief: Rules & forms notified for Foreign Asset Disclosure Scheme 2026; what they mean

The scheme provides a one-time opportunity to address specified foreign income and foreign asset reporting gaps. Foreign assets may possibly be overlooked years later—whether it is a bank account opened while studying abroad, stocks received by domestic employees under Company’s Employee Stock Option plans (ESOPs) or Restricted Stock Units (RSUs), savings accumulated during an international...
fake iphone delivery

Man paid Rs 1.43 lakh for iPhone 14 Pro, received a Chinese phone with fake Apple logo and two cameras; consumer panel orders full refund with 7% interest plus Rs 30,000

The opening of the package was recorded on video using the delivery agent’s phone. A man ordered an iPhone 14 Pro from an e-commerce platform. What he received instead shocked him. The phone that was delivered to him turned out to be a Chinese phone with a fake Apple logo. Instead of the three-camera Deep...
1788935584 tax notice

Taxpayer chose new tax regime, but consultant filed the wrong form, triggering old regime and Rs 1.23 lakh demand; ITAT orders ITR to be processed under new tax regime and gives relief on tax demand

The mistake subsequently translated into an additional tax demand. Filing your own income tax return can be a daunting and tedious process for many. That’s when you hire a consultant. But, what if the consultant mixes up your ITR between the new and old income tax regime? You may get a tax notice, and that’s...
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