India tax portal adds foreign assets to Annual Information Statement

India’s Income Tax Department has updated the e‑filing portal so that the Annual Information Statement (AIS) now lists foreign assets and income alongside domestic financial data. The change covers assessment years 2022‑2024, with data for 2025 expected to appear by late 2026. Taxpayers can view details such as overseas bank accounts, shareholdings, dividends and interest, enabling them to verify the department’s records and correct any gaps before filing.

The move is part of a broader push to improve compliance under Schedule FA of the income‑tax return. While the AIS view does not replace the return, it helps detect undisclosed offshore income that could attract penalties under the Black Money Act and the Income Tax Act. Taxpayers who discover omissions can amend past filings using ITR‑U and claim foreign‑tax credits where applicable.