Income Tax Notice for Foreign Assets: What NRIs Must Know
In recent years, the Indian Income Tax Department has significantly increased scrutiny of foreign assets and overseas income held by Indian taxpayers. Many NRIs, returning NRIs, and resident Indians are now receiving Income Tax notices related to foreign bank accounts, investments, pensions, RSUs, and retirement accounts. These notices can be stressful, but understanding the reason behind them and responding correctly can prevent serious penalties. This article explains why such not
Income Tax Notice for Foreign Assets: What NRIs Must Know
In recent years, the Indian Income Tax Department has significantly increased scrutiny of foreign assets and overseas income held by Indian taxpayers. Many NRIs, returning NRIs, and resident Indians are now receiving Income Tax notices related to foreign bank accounts, investments, pensions, RSUs, and retirement accounts. These notices can be stressful, but understanding the reason behind them and responding correctly can prevent serious penalties. This article explains why such not









