CBDT to allow taxpayers access to foreign asset and income data for transparency
The Central Board of Direct Taxes (CBDT) will soon enable taxpayers to view information it has received from abroad regarding their foreign assets and incomes. This initiative aims to enhance taxpayer services and promote voluntary tax compliance. Data from over 100 countries, obtained under the Automatic Exchange of Information (AEOI) framework, will be displayed in the Annual Information Statement (AIS) on the Income Tax e-Filing portal. Information for calendar years 2022, 2023, and 2024 is already available, with 2025 data expected by September or October 2026.
Key Points
- CBDT will provide taxpayers access to their foreign asset and income data received from abroad.
- The initiative aims to enhance taxpayer services and encourage voluntary tax compliance.
- Data from over 100 countries, under the AEOI framework, will be available on the Income Tax e-Filing portal.
- Information for 2022-2024 is already displayed, and 2025 data will be available by September/October 2026.
Exam Facts
- Authority: Central Board of Direct Taxes (CBDT).
- Framework: Automatic Exchange of Information (AEOI).
- Platform: Income Tax e-Filing portal, Annual Information Statement (AIS).
- Data availability: Calendar years 2022, 2023, 2024 currently; 2025 by Sep/Oct 2026.
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