New Delhi, Dec. 23 -- If you have not disclosed foreign assets (FA) or foreign income in your ITR (Income Tax Return), you can still include them by filing a revised return before December 31. The IT Department has asked taxpayers to report foreign assets or income held or earned during the year in their revised ITR.

"If the taxpayer has failed to report his/ her foreign assets and income in his/ her original ITR, there is an opportunity to rectify this through filing a revised return," according to the IT Department. "The Income Tax Department allows taxpayers to correct any omissions or inaccuracies by filing a revised return. The revised return can be filed up to December 31," it said.

Here is a primer on what foreign income/assets a...