{"id":1779,"date":"2025-12-03","guid":{"rendered":"https:\/\/APNOKACA.com\/blog\/?p=105601"},"modified":"2025-12-03","slug":"foreign-assets-alert-avoid-heavy-penalties-by-updating-returns","status":"publish","type":"post","link":"https:\/\/APNOKACA.com\/blog\/foreign-assets-alert-avoid-heavy-penalties-by-updating-returns","title":{"rendered":"Foreign Assets Alert: Avoid Heavy Penalties by Updating Returns"},"content":{"rendered":"\n
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<\/i> Income tax <\/a>

Foreign Assets Alert: Avoid Heavy Penalties by Updating Returns <\/h1> <\/div>

The Income Tax Department has warned about 25,000 taxpayers to review and revise AY 2025-26 returns for foreign assets and income by December 31, 2025. Non-reporting can lead to a 10 lakh fine and up to 300% penalty. Last year’s drive led to major disclosures. Act now to stay compliant. <\/p>

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<\/div> Krishna Gopal Varshney <\/a>

An editor at Myitronline<\/p> <\/div>