New Delhi, July 25 -- The Income Tax Department has enabled a new Foreign Assets Information (FAI) feature on the e-Filing portal, allowing eligible taxpayers to view information about their overseas financial accounts and assets received by India under international information-sharing arrangements. The move is aimed at improving voluntary compliance and helping taxpayers verify foreign asset details before filing returns or availing the proposed Foreign Assets of Small Taxpayers Disclosure Scheme (FAST-DS) 2026.

The Central Board of Direct Taxes (CBDT) announced the feature on July 20, stating that taxpayers can now access foreign asset information through the Annual Information Statement (AIS) on the Compliance Portal. The department ...