Income tax return

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siddharth shetty (Querist)
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15 July 2013 What are the consequences for not giving the details of foriegn assets and foriegn bank account details in the income tax return?

Anil Sankar V (Expert)
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15 July 2013 not a problem, during search or survey would lead to worst situation for the assesse.he would be later penalized under the fema act.

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