CBDT enables taxpayers to see their foreign assets in AIS on IT e

 
The Central Board of Direct Taxes (CBDT) has enabled the display of information relating to foreign assets and income, received under the Automatic Exchange of Information (AEOI) framework, in the Annual Information Statement (AIS) of eligible taxpayers on the Income Tax e-Filing portal. In a statement, the board said that the initiative has been undertaken to facilitate, and not to investigate, taxpayers in meeting their compliance obligations. The initiative also aims to to minimize inadvertent reporting errors, improve the accuracy of Income-tax Returns and make tax compliance simpler, more convenient and more transparent.