Undisclosed Foreign Income

Tax Glossary Definition

Undisclosed Foreign Income

Undisclosed foreign income refers to income earned from overseas assets or accounts that has not been reported in the taxpayer’s Income Tax Return. Such income is subject to tax, interest, and penalties under the Income Tax Act.

Example: Interest of ₹1 lakh earned on a foreign fixed deposit (FD) that is not declared in the ITR constitutes undisclosed foreign income and is taxable with applicable penalties.

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