Foreign asset disclosures up 45% amid global data push

Foreign asset disclosures up 45% amid global data push

CBDT reports a 45% rise in Indian taxpayers declaring foreign assets in AY 2024-25, driven by global data sharing under the AEOI framework. Over ₹29,000 crore in foreign holdings were disclosed through revised and belated ITRs. The move follows targeted compliance alerts, enhanced data analytics, and proactive enforcement against offshore tax evasion.

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