Disclose Your Foreign Assets and Income in ITR by July 31st, 2023

📢 Attention: Holders of foreign bank accounts, assets, and income! 🌍

In order to ensure a transparent and fair tax system for all, we kindly remind you to complete the Foreign Asset Schedule in your Income Tax Return (ITR) for Assessment Year 2023-24. 📝

If you possess foreign bank accounts, assets, or receive income from abroad, it is crucial that you disclose all your Foreign Assets (FA) and Foreign Sources of Income (FSI). 💰💼

Please note that the deadline for this disclosure is approaching: 31st July 2023. ⚠️

Failing to disclose your foreign assets or income can have serious consequences, as it is in violation of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. In such cases, a penalty of Rs 10 Lakh may be imposed upon you. ⛔

To avoid unnecessary penalties and maintain compliance with the law, we strongly urge you to submit your Foreign Asset Schedule within the specified time frame. 📅

Should you require further information or assistance regarding this matter, our helpline is available to address any queries you may have. Additionally, you can find helpful resources on our website. 📞💻

Together, let’s ensure the integrity of our tax system and promote a level playing field for all taxpayers. Your cooperation is greatly appreciated! 🌟📊

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