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Tax dept seizes Rs 5 lakh foreign currency; man wins case in ITAT Mumbai; Know how much forex you can keep at home

Tax dept seizes Rs 5 lakh foreign currency; man wins case in ITAT Mumbai; Know how much forex you can keep at home

The Income Tax Appellate Tribunal (ITAT) Mumbai ruled in favour of a taxpayer whose Rs 5.6 lakh in foreign currency was seized by the tax department. The tribunal clarified that holding legitimately acquired foreign currency within FEMA limits is permissible …

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