The Income Tax Department has introduced a significant new feature on its Compliance Portal, allowing taxpayers to access information related to their foreign financial assets. This move is aimed at enhancing transparency and helping taxpayers verify foreign asset details reported to Indian tax authorities by overseas jurisdictions.
The facility has been launched under the Foreign Assets of Small Taxpayers Disclosure Scheme (FAST-DS) 2026 and enables eligible taxpayers to securely download and review their foreign asset information through the Income Tax e-Filing portal.
What is Foreign Assets Information (FAI)?
Under international information exchange agreements, foreign countries share financial account information of Indian taxpayers with the Government of India. Until now, taxpayers could not directly access this information through the Annual Information Statement (AIS) portal.
To improve visibility and voluntary compliance, the Income Tax Department has now made this information accessible through a dedicated Foreign Assets Information (FAI) report. Due to the sensitive nature of the data, the information is not displayed directly on the portal and can only be viewed through a password-protected PDF download.
Key Features of the New FAI Facility
Some of the major highlights of the Foreign Assets Information report include:
- Foreign financial asset information is available from Calendar Year 2022 onwards.
- Access is provided through the Reports section of the AIS Compliance Portal.
- Information can only be downloaded as a password-protected PDF.
- The report contains details such as:
- Foreign bank account balances
- Dividend income
- Interest income
- Gross proceeds
- Other payments received
- Information is based on data received directly from foreign jurisdictions.
- Taxpayers can submit feedback if they find any discrepancies in the reported information.
What Details Will Be Available in the Report?
The Foreign Assets Information report is divided into two parts:
Part A: General Information
This section contains:
- PAN of the taxpayer
- Name of the assessee
Part B: Foreign Asset Details
The report may include:
- Transaction Sequence Number (TSN)
- Country name
- Name of the foreign financial institution
- Foreign bank account number
- Currency in which income or payments were reported
- Dividend income
- Interest income
- Gross proceeds
- Other payments
- Equivalent value in Indian Rupees (INR)
- Account balance in the reported foreign currency
How to Access Foreign Assets Information?
Taxpayers can access the report by following these steps:
- Log in to the Income Tax e-Filing portal using PAN/Aadhaar credentials.
- Navigate to e-File → Income Tax Returns → View Annual Information Statement (AIS).
- Open the Compliance Portal.
- Click on the Reports tab.
- Select Foreign Assets Information.
- Choose the relevant Calendar Year.
- Click Download PDF to generate the report.
Password for Opening the PDF
The downloaded PDF is password-protected.
The password format is:
PAN (in lowercase) + Date of Birth (DDMMYYYY)
For example:
- PAN: AAAAA1234A
- Date of Birth: 21 January 1991
Password: aaaaa1234a21011991
Facility to Submit Feedback
The portal also provides taxpayers with the option to submit feedback if any information appears to be incorrect.
Feedback can be submitted for:
- Account Balance
- Dividend
- Interest
- Other Payments
- All categories together
Taxpayers can choose from feedback options such as:
- Information is correct
- Information does not pertain to me
- Information is partially correct
- Information is incorrect
A valid Transaction Sequence Number (TSN) from the downloaded report is required for submitting feedback.
Why This Initiative Matters
The introduction of Foreign Assets Information reporting marks an important step in strengthening tax transparency and voluntary compliance. By allowing taxpayers to view the exact information received from foreign jurisdictions, the Income Tax Department aims to reduce reporting mismatches and encourage accurate disclosure of overseas assets and income.
The facility also provides taxpayers an opportunity to review foreign financial data and promptly report any discrepancies, helping avoid future compliance issues.
Click here to view/download the Foreign Assets Information User Guide
Conclusion
The new Foreign Assets Information feature on the AIS Compliance Portal gives taxpayers greater visibility into overseas financial information shared with Indian tax authorities. Individuals holding foreign bank accounts, investments, or earning income abroad should review their FAI reports carefully and ensure that the information aligns with their tax disclosures.
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