US shares, undisclosed dividend: is BMA penalty inevitable?
An Indian investor disclosed foreign shares but not the associated dividend income, assuming it was taxed in the US. The ₹20 lakh threshold for penalty under the Black Money Act pertains to foreign assets, not income. What can be done to mitigate penalties?
An Indian investor disclosed foreign shares but not the associated dividend income, assuming it was taxed in the US. The ₹20 lakh threshold for penalty under the Black Money Act pertains to foreign assets, not income. What can be done to mitigate penalties?
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