The CBDT has enabled taxpayers to view certain foreign asset information in their AIS, giving them greater visibility into overseas financial data received under global information-sharing arrangements. The move is intended to improve voluntary compliance but does not reduce taxpayers' responsibility to fully disclose foreign assets and income while filing ITRs.

The Central Board of Direct Taxes (CBDT) has introduced a new feature in the Annual Information Statement (AIS) that allows taxpayers to view certain foreign asset information received under the Automatic Exchange of Information (AEOI) framework. The move is aimed at improving tax transparency and helping taxpayers accurately report foreign assets and foreign-source income while filing their income tax returns (ITRs)....

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