New Delhi: The Income Tax Department has started displaying information on foreign assets and overseas income received from more than 100 jurisdictions under international information-sharing arrangements in taxpayers' annual information statements (AIS), a move aimed at improving voluntary tax compliance, said people familiar with the development.The facility, launched by the Central Board of Direct Taxes, enables eligible taxpayers to view details of foreign financial accounts, custodial accounts, investments, interest, dividends and certain other overseas income reported to India under the Automatic Exchange of Information framework, according to the people.The move is intended to help taxpayers accurately disclose foreign assets and overseas income while filing income tax returns for assessment year 2026-27, and is not part of any enforcement or investigation exercise, they said.Information relating to 2022, 2023 and 2024 has already been made available through the AIS on the income tax e-filing portal. Data for 2025 will be uploaded after India receives it from partner jurisdictions, expected during September-October.Officials said taxpayers must continue to disclose all foreign assets and overseas income in the relevant schedules of their income tax returns, irrespective of whether the information appears in the AIS, as the data available with the department may not be exhaustive.The department has begun sending emails and text messages to taxpayers informing them about the new facility and reminding them to correctly report foreign assets and overseas income while filing their returns. Officials said the information is accessible only to the taxpayers concerned through their secure login on the e-filing portal.India receives financial account information on its tax residents from more than 100 partner jurisdictions under global automatic exchange of information agreements, allowing tax authorities to match overseas financial holdings with disclosures made in income tax returns.
AIS now includes foreign assets, income data
The Income Tax Department now shows foreign asset details in annual statements. This move aims to improve voluntary tax compliance for eligible taxpayers. Information from over 100 jurisdictions is available through international sharing agreements. Taxpayers must still report all foreign assets and income, even if not listed. Emails and messages are being sent to inform taxpayers about this new facility.






