CBDT nudges taxpayers on undisclosed foreign assets
What happened
- Using Automatic Exchange of Information data for 2024, CBDT found high-risk cases of unreported foreign assets and launched a second NUDGE campaign: SMS and emails from 28 November 2025, asking taxpayers to revise returns by 31 December 2025 [PIB].
- Disclosure is required under the Income-tax Act, 1961 and the Black Money Act, 2015 [PIB].
Background
- Messages target Schedule FA (Foreign Assets) and FSI (Foreign Source Income) in ITRs [PIB].
Why it matters
- Nudging before penalties saves litigation and builds compliance.
How to use this in Mains
- As per PIB (2025-11-27): using Automatic Exchange of Information data for 2024, CBDT found high-risk cases of unreported foreign assets and launched a second NUDGE campaign: SMS and emails from 28 November 2025, asking taxpayers to revise returns by 31 December 2025.
- Nudging before penalties saves litigation and builds compliance.
Quotable data pointDisclosure is required under the Income-tax Act, 1961 and the Black Money Act, 2015.
PIB: CBDT: Second NUDGE on foreign assets, 27 Nov 2025
Exam angle
UPSC
Prelims: AEOI, Black Money Act.
Practice MCQs
Original practice questions (not PYQs).
Practice · UPSC
Revision deadline
Answer (a) & explanation
PIB.
Practice · UPSC
Data source used
Answer (a) & explanation
PIB.
Practice · UPSC
Black Money Act year
Answer (a) & explanation
PIB.
Go deeper
Official source: PIB: CBDT: Second NUDGE on foreign assets, 27 Nov 2025
facts from cited sources only; faculty review pending