India's CBDT launches online view of foreign assets in tax portal

The Central Board of Direct Taxes (CBDT) has introduced a new facility on the Income Tax e‑Filing portal that lets taxpayers view information about their foreign assets and income directly through the Annual Information Statement (AIS). The data, sourced from more than 100 partner jurisdictions under international information‑exchange agreements, can include foreign bank accounts, custodial holdings, investments, interest and dividends. AIS currently displays information for calendar years 2022‑2024, with the 2025 figures to be added after receipt in September‑October 2026. The CBDT emphasized that the AIS listing is not a complete record; taxpayers must still fully report all foreign assets and income in Schedule FA and Schedule FSI of their returns. Access is provided via the portal’s Compliance Portal → Reports → “Foreign Assets Information”, and users can download a PDF for the selected year. Alerts via SMS and email, as well as the AI‑based “Kar Saathi” virtual assistant, have been deployed to remind taxpayers to report correctly. “The initiative is designed solely to facilitate taxpayers … not as a tool for scrutiny,” a senior official said.