CBDT rolls out new feature letting taxpayers view foreign asset data online
By Shailesh Yadav, New Delhi, July 16,
The Central Board of Direct Taxes has introduced a new facility allowing taxpayers to view information about their foreign assets and income directly through the Annual Information Statement on the Income Tax e-Filing portal, in a move aimed at making compliance easier rather than triggering scrutiny.
Sources in the Central Board of Direct Taxes (CBDT) told ANI that the data comes from more than 100 partner countries that share financial account details with India each year under international information-exchange agreements.
This can include foreign bank accounts, custodial holdings, investments, and related income such as interest and dividends. Currently, the AIS reflects data for calendar years 2022 to 2024, with 2025 figures expected by September or October 2026, once received from partner nations.
CBDT sources stressed that the AIS listing is not a complete record of a taxpayer's overseas holdings, and individuals remain responsible for fully and accurately declaring all foreign assets and income in Schedule FA and Schedule FSI of their tax returns, regardless of what appears in the AIS.
To access the information, taxpayers can log into their e-Filing account, go to the AIS section, navigate to the Compliance Portal's "Reports" tab, select "Foreign Assets Information," and download a PDF for the relevant year. The data is visible only to the account holder through their own secure login.
CBDT sources said SMS and email alerts are being sent to taxpayers reminding them to report foreign assets correctly while filing returns for Assessment Year 2026-27. The department is also promoting "Kar Saathi," an AI-based assistant on the e-Filing portal, to help taxpayers choose the right return form and navigate foreign asset reporting.
The initiative is part of the CBDT's broader push toward technology-driven, non-intrusive taxpayer services intended to reduce filing errors and improve transparency.
— ANI
Reader Comments
Finally some transparency! I have been filing Schedule FA blindly without knowing what data the IT department already has. This will help me cross-check. But I hope they don't use this to send unnecessary notices for minor differences.
As an NRI based in London for 15 years, I appreciate this initiative. The old system of manually compiling foreign asset data was a pain. Now I can see what India receives from HMRC. Just hope the language on the portal remains simple enough for everyone.
Yaar, CBDT should also make Kar Saathi more intelligent. I tried the AI assistant but it gave me basic info. Also, not everyone knows about Schedule FA. Middle-class folks with small foreign accounts might miss filing properly. Need more awareness campaigns.
Thank you, CBDT! 😊 I have a small NRO account in UAE with some interest. Seeing that data available on AIS gives me peace of mind that I won't miss reporting it. But I worry about data security — hope the portal is hacker-proof.
Impressive step towards non-intrusive tax compliance. I like that CBDT is using technology rather than harassing taxpayers. But let's be honest — the data sharing is still slow (2025 info available only in 2026?). Also, what if the partner country data doesn't match my actual records? Need a dispute mechanism.
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.