India launches campaign to boost reporting of foreign assets and income for tax year 2024-25.

The Central Board of Direct Taxes in India has launched a campaign to help taxpayers accurately report foreign assets and income for the Assessment Year 2024-25. This Compliance-Cum-Awareness Campaign will send informational messages via SMS and email to taxpayers who have already filed their returns, focusing on those with high-value foreign assets or income. The aim is to improve transparency and voluntary compliance with tax regulations, aligning with the government’s economic goals.

November 16, 2024
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