Foreign assets in AIS: CBDT sets the stage for Foreign Assets of Small Taxpayers Disclosure Scheme

In two significant orders issued on July 8, 2026, the Central Board of Direct Taxes (CBDT) has authorised the Director General of Income-tax (Systems) to upload foreign financial information received under the automatic exchange of information (AEOI) framework into the annual information statement (AIS) of taxpayers—Form 26AS under the Income-tax Act, 1961, and Form 168 under the Income-tax Act, 2025.

Until now, such information largely remained within the tax administration. Taxpayers generally had little visibility into the overseas financial information available with the Income Tax Department unless it was specifically shared during assessment, re-assessment, or other proceedings under the Income-tax Act or the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.