India mandates asset disclosures for presumptive taxpayers
ITR-4 filers must report balances and assets as of March 31
Change
India required presumptive taxation filers to disclose bank balances, investments, cash and liabilities in ITR-4 from assessment year 2026–27.
Why it matters
Authorities can cross-check declared income against disclosed financial positions, increasing audit and reassessment risk.
Implications
- — Compliance burden increases — disclosures mandatory
- — Mismatch risk triggers scrutiny — reassessments rise
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