LatestIncome Tax 11 July 2026
New Tax Regime Update
The new tax regime in India has introduced changes to the way foreign shares are reported, individuals with foreign assets must file their ITR with the relevant accounting period, the new tax regime has also introduced changes to the income tax slab, taxpayers can choose between the old and new tax regimes, the choice of tax regime will impact the amount of tax payable
The new tax regime in India has introduced significant changes to the way foreign shares are reported. Individuals with foreign assets must file their ITR with the relevant accounting period. Key points to consider:
- The new tax regime has introduced changes to the income tax slab
- Taxpayers can choose between the old and new tax regimes
- The choice of tax regime will impact the amount of tax payable. The *relevant accounting period* is a critical factor in reporting foreign assets in Schedule FA.
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