Tag Archives: Taxpayers

The Foreign Assets of Small Taxpayers Disclosure Scheme, 2026

By | August 19, 2026
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The Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 FAQ’s The Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 (Chapter IV, sections 130 to 144 of the Finance Act, 2026, read with the Foreign Assets of Small Taxpayers – Disclosure Scheme Rules, 2026)   A.   About the Scheme Q1. What is the Foreign Assets of… Read More »

No Unexplained Cash Addition Under Section 69A When Income Declared Under Presumptive Taxation

By | January 9, 2025
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No Unexplained Cash Addition Under Section 69A When Income Declared Under Presumptive Taxation : ITAT Summary  : The ITAT Mumbai held that when an assessee declares income under the presumptive taxation scheme, Section 69A cannot be used to treat cash deposits as unexplained income, especially when there is no evidence of income from any other… Read More »