Tax Department will soon let you see the data it has on your foreign assets and income
The Central Board of Direct Taxes (CBDT) will soon allow taxpayers to view information regarding their foreign assets and income directly on the Income Tax e-Filing portal. This data, collected via the Automatic Exchange of Information framework, aims to improve transparency and voluntary tax compliance.
Why it matters
This initiative simplifies tax reporting for individuals with international financial interests and helps the government curb tax evasion by providing taxpayers with a clear view of reported foreign data.
The Central Board of Direct Taxes (CBDT) will soon allow taxpayers to see the information the tax department has received from abroad regarding their foreign assets and incomes, sources in the CBDT have said.
The article reports on government policy changes in a factual, neutral manner without emotive language or political commentary.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in