Suchnaji News, Bhilai. The Central Board of Direct Taxes (CBDT) has launched a Compliance-Cum-Awareness Campaign for Assessment Year (AY) 2024-25 to assist taxpayers in accurately completing Schedule Foreign Assets (Schedule FA) and reporting income from foreign sources (Schedule FSI) in their Income Tax Returns (ITR). Compliance with Schedule FA and FSI is mandatory under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, which requires the full disclosure of foreign assets and income.
ये खबर भी पढ़ें: औद्योगिक विवादों और दावों पर बड़ी खबर, केंद्रीय श्रम मंत्रालय का इस पर फोकस
As part of this campaign, informational messages will be sent via SMS and email to resident taxpayers who have already submitted their ITR for AY 2024-25. These messages are intended for individuals identified through information received under bilateral and multilateral agreements, suggesting that they may hold foreign accounts or assets, or have received income from foreign jurisdictions. The purpose is to remind and guide those who may not have fully completed Schedule Foreign Assets in their submitted ITR for AY 2024-25, especially in cases involving high-value foreign assets.
ये खबर भी पढ़ें: OP Jindal University को मिले कई अवॉर्ड, नवीन जिंदल की मेहनत ला रही रंग
This initiative aligns with the vision of Viksit Bharat and highlights the Income Tax Department’s commitment to using technology to simplify taxpayer compliance and reduce human interaction. By leveraging data obtained through the Automatic Exchange of Information (AEOI), the department is working to create a more efficient, taxpayer-friendly system.
ये खबर भी पढ़ें: औद्योगिक विवादों और दावों पर बड़ी खबर, केंद्रीय श्रम मंत्रालय का इस पर फोकस
The CBDT expects all eligible taxpayers to take advantage of this opportunity to fulfil their tax responsibilities and contribute to the nation’s economic development. This effort not only is in line with the government’s vision for a developed India but also fosters a culture of transparency, accountability, and voluntary compliance.
ये खबर भी पढ़ें: Bokaro Steel Plant: बीएसएल के इस्पात भवन में क्रेच, किलकारी में बच्चों की धमाचौकड़ी
For a detailed, step-by-step guide on completing Schedule Foreign Assets, taxpayers are encouraged to visit the official Income Tax Department website www.incometax.gov.in where resources and support are readily available to assist them.
ये खबर भी पढ़ें: OP Jindal University को मिले कई अवॉर्ड, नवीन जिंदल की मेहनत ला रही रंग
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