When a reporting lapse can turn honest taxpayers into ‘black money’ accused
Taxpayers face severe penalties for failing to disclose foreign assets, even inadvertently. A Mumbai executive received a ₹40 lakh fine under the Black Money Act despite no income from his holdings.
Taxpayers face severe penalties for failing to disclose foreign assets, even inadvertently. A Mumbai executive received a ₹40 lakh fine under the Black Money Act despite no income from his holdings.
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