CBDT Enables Online Access to Foreign Asset and Income Data Through AIS Portal

The Central Board of Direct Taxes (CBDT) has introduced an online facility that allows taxpayers to review certain information relating to their foreign assets and overseas income through the Annual Information Statement (AIS) available on the Income Tax e-Filing portal.

The facility is intended to help taxpayers identify reportable foreign financial interests and improve the accuracy of income-tax returns. According to information attributed to CBDT sources, the records are received annually from more than 100 jurisdictions under international financial information-sharing arrangements.

The information may cover overseas bank accounts, custodial accounts, investment holdings and associated income, including interest and dividends. At present, the facility contains data for calendar years 2022, 2023 and 2024. Information for calendar year 2025 is expected to become available around September or October 2026, subject to its receipt from partner jurisdictions.

CBDT has clarified that the foreign asset information displayed in AIS may not represent a comprehensive statement of an individual’s overseas assets or income. Taxpayers must independently ensure that all applicable foreign holdings and income are accurately disclosed in Schedule FA and Schedule FSI of the relevant income-tax return, even if some details are not reflected in AIS.

CA Sansaar