News & Media 21st Jul 2025
Our Partner Dipesh Jain shares his insights in the recent Business Standard article titled “Non-disclosure of foreign assets, income can attract ₹10 lakh fine” authored by Sanjeev Sinha.
With increasing outbound investments through the Liberalised Remittance Scheme (LRS), Mr. Jain highlights the importance of accurate tax return filings, particularly disclosing foreign income and assets, to avoid significant penalties. He also explains common oversights and the revised return filing timelines under the Income Tax Act
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