Income Tax 28 September 2026
Income Tax Dept Pushes Foreign Asset Disclosure
India's Income Tax Department has begun sharing information on taxpayers' foreign assets and is urging them to file disclosures before the year‑end deadline of December 31, 2026. The move follows a series of notices aimed at improving compliance and reducing tax evasion involving overseas holdings.
Income Tax Department shares foreign asset data
The department is sending out notices that detail known foreign holdings and is nudging taxpayers to declare them before the Dec 31, 2026 deadline.
- Deadline: December 31, 2026 for all disclosures.
- Purpose: Strengthen compliance, curb offshore tax evasion.
- Action: Taxpayers should review the shared data and submit the required disclosures.
For full details, see the original report at Indian Express.
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