CBDT to Display Foreign Assets & Overseas Income in AIS and Form 26AS

On 8 July 2026, the Central Board of Direct Taxes (CBDT) issued a landmark directive (Order F.No. 225/73/2025-ITA-II) making foreign financial information significantly more transparent.

Under this order, information received by India from foreign tax jurisdictions will now be uploaded directly into taxpayers’ Annual Information Statement (AIS) (specifically Form No. 168) and Form 26AS.

1. What Has Changed?

Earlier, foreign financial information received under international information-sharing agreements was primarily used internally for risk assessment and investigations.

Now, the same information will be visible to taxpayers through:

Annual Information Statement (AIS)
Form No. 168
Form 26AS

The upload will be carried out by the Director General of Income-tax (Systems), Delhi.

2. Key Timelines

Calendar Years 2022, 2023 & 2024

All historical foreign information already available with the Income Tax Department must be uploaded within 90 days from 8 July 2026.
Expected completion: Early October 2026

Calendar Year 2025 and Future Years

New foreign information received by the department must be uploaded within 90 days from the end of the month in which it is received.

3. What Foreign Information Will Appear?

Information received through international frameworks such as:

Common Reporting Standard (CRS)
Foreign Account Tax Compliance Act (FATCA)

may include:

Foreign Bank Accounts

Bank name
Branch details
Account balance
Interest earned

Foreign Investments

Overseas shares
Exchange Traded Funds (ETFs)
Mutual funds

Overseas Income

Dividends
Capital gains
Investment income
Custodial account payouts

Other Financial Assets

Foreign brokerage accounts
Investment-linked foreign insurance policies

4. Who Will Be Impacted?

This update is particularly important for:

NRIs
Returning Indians
Resident individuals holding foreign investments
ESOP holders with overseas shares
Students who worked abroad
Anyone earning foreign income

5. Why This Matters

Better Data Matching

The Income Tax Department can now directly compare:

Your Income Tax Return
Schedule FA
Schedule FSI
AIS
Form 26AS

Any mismatch may increase the likelihood of scrutiny.

Reporting Foreign Assets Is Mandatory

Failure to disclose:

Foreign assets
Foreign bank accounts
Overseas income

may attract action under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, including:

Penalty up to ₹10 lakh per year of non-disclosure (subject to applicable exceptions under the law)
Possible prosecution in serious cases

6. What Should Taxpayers Do?

Step 1 – Download AIS & Form 26AS

Navigate to:

Services → Annual Information Statement (AIS)

Download:

AIS PDF
AIS JSON
Form 26AS

Step 2 – Collect Foreign Financial Records

Keep ready:

Foreign bank statements
Brokerage statements
Dividend statements
RSU/ESOP reports
Tax summaries

Step 3 – Reconcile the Data

Compare:

Foreign statements
AIS entries
Form 26AS

Convert foreign currency into INR using the prescribed SBI Telegraphic Transfer Buying Rate (TTBR) wherever applicable.

Step 4 – Correct Any Mismatch

If AIS contains incorrect information:

Submit feedback through the AIS portal.

If you failed to disclose foreign income or assets:

Evaluate whether a revised or updated return is available and appropriate under the applicable law.
Report foreign assets in Schedule FA and foreign income in Schedule FSI, if required.

Read More: ITR-1 vs ITR-2 vs ITR-4 for AY 2026-27: How to Choose the Right Income Tax Return Form

7. Legal Framework

The implementation is based on:

Income-tax Act, 1961

Section 119
Rule 114-I(2)

Income-tax Act, 2025

Section 239
Rule 245(2)

Key Takeaway

Foreign financial information shared with India under CRS and FATCA will now be visible in AIS (Form No. 168) and Form 26AS. Taxpayers with overseas assets or income should carefully reconcile their records with the information appearing in AIS and ensure complete and accurate disclosure in their income tax returns to minimize compliance risks.

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