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The Central Board of Direct Taxes (CBDT), India's top direct tax authority, has launched a comprehensive investigation into high-value foreign remittances exceeding ₹6 lakh. This move aims to ensure compliance with tax regulations and identify potential tax evasion. The Income Tax Department has reportedly issued thousands of notices to individuals, particularly high-net-worth individuals (HNIs), seeking detailed information on overseas real estate investments and other assets held abroad. This enhanced scrutiny reflects the government's focus on curbing tax evasion and ensuring transparency in foreign financial transactions.
🚨 Overseas real estate investments by HNIs may be under greater tax scrutiny, with I-T department issuing thousands of notices seeking information and disclosures on assets held abroad. Read on 👇 https://t.co/Zh5NxMpSrG #RealEstate #IT #Tax
#NewsFlash | Real estate investments by HNIs outside India under I-T Department scanner👇 I-T department undertakes enhanced tax scrutiny of real estate invsts made by HNIs Abroad, has issued thousands of notices seeking info of assets held abroad, sources to @TimsyJaipuria https://t.co/i1cuK5QqRc
Sent foreign remittance over THIS amount? I-T dept may knock your door – Know why https://t.co/94y9BTxnk4
