ilmscore | Prediction Details
"if you have not shown your foreign assets or foreign esops or even if you have some foreign income they can go even back to 10 years and the penalty here is 10 lak rupees 10 lakh rupees what 10 lakh rupees is the penalty because you have not shown your foreign esop for an equity holding because this is considered as a black money if I'm not disclosing there is a schedule FA in income tax."
By Finance With Sharan | June 2, 2025 | Correct
From video
The Ultimate Indian Tax-Saving Masterclass (Salary, Business & Investments) | The 1% Club Show Ep62 00:29:42 - 00:30:05
Interpreted Prediction
Failure to disclose foreign assets, ESOPs, or foreign income can lead to penalties of up to 10 lakh rupees, with the tax department able to investigate back up to 10 years.
AI Evaluation Notes
The prediction stated that failure to disclose foreign assets could lead to penalties of up to 10 lakh rupees, with tax authorities being able to investigate back up to 10 years. Based on current searches, this is still accurate as the Income Tax Department can impose penalties for non-disclosure of foreign assets.

Prediction Details

Topic
Foreign Asset Disclosure Penalties

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