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Dec 18, 2025
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Got foreign asset or income related intimation from Income Tax Dept? Here's what CAs tell what you should do now
The Income Tax Department is reaching out to taxpayers with bulk emails about disclosing foreign assets/income information for the Calendar Year 2024. The intimations are based on data received from foreign jurisdictions under international information-sharing arrangements such as CRS, FATCA and AEOI.
Taxpayers who have received these e-mails now need to report this income in revised ITR by December 31, 2025.
But which foreign assets should they report? Who needs to report these assets? And what happens if someone doesn't report these assets in a revised ITR? Let's check out what the chartered accountants have to say about it.-
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