Foreign assets in ITR: Income Tax Department’s new AIS, Form 26AS rule explained
The Central Board of Direct Taxes (CBDT) has directed that financial information received from foreign tax jurisdictions under the Automatic Exchange of Information (AEOI) framework be reflected in taxpayers’ Annual Information Statement (AIS) and Form 26AS. This is aimed at increasing transparency and helping taxpayers reconcile overseas financial information before filing income tax returns. The…
