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.

Foreign Assets in AIS: CBDT Sets the Stage for the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026

The CBDT will soon provide taxpayers access to foreign asset and income data on the Annual Information Statement.