Overseas holdings under scrutiny: IT dept flags non-disclosure; taxpayers get last chance to revise ITRs- get details
The Income Tax department on Thursday said it has identified “high-risk” cases in which individuals have not reported foreign assets in their income tax returns (ITRs) for Assessment Year (AY) 2025–26. Beginning November 28, the department will send SMS and email alerts to such taxpayers, advising them to file a revised return by December 31,…