Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Foreign Assets of Small Taxpayers Disclosure Scheme Rules, 2026 establish electronic procedures for declaring specified undisclosed foreign assets and income. Fair market value is prescribed by asset class, generally using the higher of acquisition cost and valuation-date market value, with indexed cost deemed applicable where valuation is unavailable; special rules apply to bank accounts, transferred assets, reinvestment chains, partnership interests and currency conversion. Declarations in Form 1 are limited by separate aggregate-value thresholds for undisclosed assets and income, and for previously taxed or non-resident-acquired foreign assets not disclosed after becoming resident. Payment, electronic intimation and certification are made through Forms 2-4; delayed payment attracts interest, while non-payment within the permitted period voids the declaration. Valid certification grants the specified tax, penalty and prosecution immunity.
Foreign Assets of Small Taxpayers Disclosure Scheme Rules, 2026 establish electronic procedures for declaring specified undisclosed foreign assets and income. Fair market value is prescribed by asset class, generally using the higher of acquisition cost and valuation-date market value, with indexed cost deemed applicable where valuation is unavailable; special rules apply to bank accounts, transferred assets, reinvestment chains, partnership interests and currency conversion. Declarations in Form 1 are limited by separate aggregate-value thresholds for undisclosed assets and income, and for previously taxed or non-resident-acquired foreign assets not disclosed after becoming resident. Payment, electronic intimation and certification are made through Forms 2-4; delayed payment attracts interest, while non-payment within the permitted period voids the declaration. Valid certification grants the specified tax, penalty and prosecution immunity.
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