https://www.taxtmi.com/forms?id=2725 Form 1 requires disclosure of specified foreign assets and income, with declarant details, asset or income classification, acquisition year, residential status, supporting evidence and annexure-based asset particulars. Fair market value must be aggregated by category, with the prescribed amount payable calculated at 60 per cent for undisclosed foreign assets and income and a prescribed fee for specified omitted foreign assets. Indexed acquisition cost is deemed fair market value where no valuation is carried out. Verification requires certification of correctness, completeness and compliance with the specified exclusion provision. en-us Mon, 17 Aug 2026 16:33:00 +0530 Mon, 17 Aug 2026 17:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forms?id=2725 Form 1 requires disclosure of specified foreign assets and income, with declarant details, asset or income classification, acquisition year, residential status, supporting evidence and annexure-based asset particulars. Fair market value must be aggregated by category, with the prescribed amount payable calculated at 60 per cent for undisclosed foreign assets and income and a prescribed fee for specified omitted foreign assets. Indexed acquisition cost is deemed fair market value where no valuation is carried out. Verification requires certification of correctness, completeness and compliance with the specified exclusion provision. Forms Income Tax Mon, 17 Aug 2026 16:33:00 +0530 https://www.taxtmi.com/forms?id=2725