Income Tax 28 September 2026
India Tax Updates: Foreign Asset Notice, NRI Property Rules, UAE Return Guide
The Income Tax Department is urging taxpayers to disclose foreign assets after sharing detailed information, while the FAST DS 2026 scheme prompts small taxpayers to file disclosures. New amendments introduce revised TDS, PAN, and Form 141 requirements for purchases from NRIs effective October 1, and a six‑step guide helps UAE returnees navigate Indian tax residency, bank accounts, and gratuity.
The Income Tax Department has started sharing foreign asset details with taxpayers, encouraging prompt disclosures under the FAST DS 2026 scheme.
- Foreign asset notice: Taxpayers receive notices to declare overseas holdings before Dec 31, 2026. Read more
- FAST DS 2026: Small taxpayers must file disclosures after receiving SMS alerts. Details
- NRI property purchase rules: Effective Oct 1, new TDS, PAN, and Form 141 requirements align foreign buyers with domestic compliance. Full article
- UAE‑to‑India tax residency guide: Six‑step financial homecoming plan covering residency status, bank accounts, property, and gratuity. Guide
These changes aim to tighten compliance, simplify NRI transactions, and assist expatriates returning to India.
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