Foreign Assets in AIS: Are You Compliant for 3 Years?

The Income Tax Department has added foreign assets and income details to your Annual Information Statement on the e-Filing portal. If you hold overseas bank accounts, property, or investments, this data is now visible for calendar years 2022 to 2024. Check it before you file — mismatches can trigger notices.

Here's what happened: CBDT has enabled foreign asset and income data inside the Annual Information Statement (AIS) on the Income Tax e-Filing portal for Indian taxpayers.. Information covers calendar years 2022, 2023, and 2024 — sourced from international tax-sharing agreements India has with other countries.. The move is designed to help taxpayers self-verify and stay compliant, not to immediately trigger scrutiny — but mismatches will be noticed..

What you should do: Log in to incometax.gov.in, go to AIS under 'Services', and check if any foreign asset or income details are pre-populated for CY 2022–2024.. Cross-check this AIS data against what you disclosed (or plan to disclose) in Schedule FA and Schedule FSI of your ITR — any gap needs correcting.. If you have an overseas bank account, foreign stocks, or rental income from abroad that you have NOT declared, consult a CA immediately before filing ITR this season..

India receives foreign financial data automatically under FATCA and CRS treaties with 100+ countries — your foreign bank already reported your balance to Indian authorities years ago.