The Central Board of Direct Taxes (CBDT) has enabled taxpayers to view information related to their foreign assets and overseas income through the Annual Information Statement (AIS) on the Income Tax e-Filing portal. The facility allows eligible taxpayers to access data received under international information-sharing frameworks such as Common Reporting Standard (CRS) and Foreign Account Tax Compliance Act (FATCA).
What is the New AIS Foreign Assets Facility?
India receives financial information about its tax residents from more than 100 partner jurisdictions through Automatic Exchange of Information (AEOI) arrangements. The information exchanged may include details of:
- Foreign bank accounts
- Custodial accounts
- Financial investments
- Interest income
- Dividend income
- Other specified foreign-source financial income
The CBDT has now made this information available to taxpayers through AIS, enabling them to review the data available with the Income Tax Department and ensure accurate reporting in their income tax returns.
Which Years' Data is Available?
According to the CBDT note, information relating to:
- Calendar Year (CY) 2022
- Calendar Year (CY) 2023
- Calendar Year (CY) 2024
is currently available in AIS. Information for CY 2025 is expected to be displayed after it is received from partner jurisdictions during September–October 2026.
Important Clarification by CBDT
CBDT has specifically clarified that the information displayed in AIS is facilitative in nature and should not be considered a complete record of a taxpayer's foreign assets or foreign income.
Taxpayers remain responsible for fully and correctly disclosing all foreign assets and foreign-source income in:
- Schedule FA (Foreign Assets)
- Schedule FSI (Foreign Source Income)
of their Income Tax Return, irrespective of whether such information appears in AIS.
How Taxpayers Can Access Foreign Assets Information in AIS
Taxpayers can view their foreign asset information by following these steps:
- Log in to the Income Tax e-Filing portal.
- Navigate to AIS (Annual Information Statement).
- Access the Compliance Portal.
- Click on Reports.
- Select Foreign Assets Information.
- Choose the relevant calendar year.
- Download the PDF report to view available information.
Not a Scrutiny Tool, Says CBDT
The CBDT has emphasized that the initiative is intended solely to assist taxpayers in meeting their compliance obligations and should not be viewed as a scrutiny or investigation mechanism. The objective is to provide taxpayers with visibility into information available with the Department so they can avoid inadvertent reporting errors while filing returns.
SMS and Email Alerts Being Sent
To increase awareness about the facility, the Income Tax Department is sending SMS and email communications to taxpayers, informing them about the availability of foreign asset information and reminding them to appropriately disclose foreign assets and foreign income while filing returns for AY 2026-27.
Taxpayers can also seek assistance through 'Kar Saathi', the AI-powered virtual assistant available on the Income Tax e-Filing portal, for guidance on reporting foreign assets and selecting the correct return forms.
Why This Matters
The latest initiative reflects CBDT's broader strategy of leveraging technology to simplify tax compliance and improve taxpayer services. By giving taxpayers access to foreign asset information already available with the Department, the government aims to:
- Improve accuracy in tax return filing
- Reduce reporting mistakes
- Enhance transparency
- Encourage voluntary compliance
- Make tax administration more taxpayer-friendly
The move is particularly relevant for individuals holding overseas bank accounts, foreign investments, ESOPs from multinational employers, or earning income from foreign sources.
Click here to view the official copy of the notification
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