CAF-2 · Chapter 14 · Question 11 of 15
Which of the following individuals is mandatorily required to furnish a Foreign Income and Assets Statement?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) B) A resident individual having foreign income of USD 12,000.
Explanation
Every resident taxpayer being an individual having foreign income of not less than USD 10,000 OR having foreign assets with a value of not less than USD 100,000 shall furnish a foreign income and assets statement.
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