If you recently logged into your Annual Information Statement (AIS) and were surprised to find details of your foreign bank account, overseas shares or dividend income, there is no need to panic.

The Income Tax Department has clarified that this is not a new investigation or scrutiny exercise. In a post on X, it has said that the appearance of foreign financial information in AIS is part of a taxpayer facilitation initiative and not a sign of any investigation. The move is intended to make it easier for taxpayers to verify the information available with the department and accurately disclose their foreign assets and income while filing their tax returns.

WHY IS FOREIGN INFORMATION APPEARING IN AIS?

The department said India receives financial information from more than 100 countries. This includes details such as foreign bank accounts, investments, interest income and dividends.

As a result, eligible taxpayers may now see these details reflected in their AIS. The department said the facility has been introduced to make the tax filing process smoother by allowing taxpayers to compare their records with the information already available to the tax authorities.

It also clarified that this information is visible only to the taxpayer through their secure login on the e-Filing portal.

Also, along with the social media post, the Income Tax Department shared a short video to explain the new feature in simple language.

The video also highlights that taxpayers can now check exactly what information the department has before filing their ITR. This gives them an opportunity to ensure that the required schedules relating to foreign income and overseas assets are filled correctly, reducing the chances of mistakes or omissions.

The message is clear: the department wants taxpayers to see this feature as a tool for transparency and easier compliance rather than as a reason for concern.

FOREIGN ASSETS MUST STILL BE REPORTED

The Income Tax Department has reminded taxpayers that the responsibility to disclose foreign assets and foreign income continues to rest with them.

Even if certain information does not appear in the AIS, taxpayers are still required to declare all foreign assets in Schedule FA while filing their income tax returns. Any applicable foreign income must also be reported in the relevant schedules of the return.

HOW TO CHECK FOREIGN ASSETS INFORMATION

The department has also explained how taxpayers can view their foreign asset information.

After logging into the Income Tax e-Filing portal, taxpayers need to open the AIS, go to the Compliance Portal, select the 'Reports' section and choose 'Foreign Assets Information'. They can then select the relevant year and download the report.

Simply put, with this initiative, the Income Tax Department is giving taxpayers a clearer picture of the financial information it receives from overseas jurisdictions. By allowing taxpayers to verify these details before filing their returns, the department hopes to make reporting more accurate, reduce inadvertent errors and encourage better tax compliance.

- Ends

Published By:

Jasmine anand

Published On:

Jul 22, 2026 11:59 IST