News

Income Tax dept identifies cases of non-disclosure of foreign assets in ITRs, to start sending SMS/emails

The Income Tax department has identified individuals who have not reported foreign assets in their income tax returns. These taxpayers will receive SMS and emails starting November 28. They are advised to file a revised ITR by December 31, 2025. This action aims to ensure accurate reporting of foreign assets and income. Failure to comply may lead to penal consequences.