NEW DELHI: The Central Board of Direct Taxes (CBDT) on Thursday said it is launching the second ‘NUDGE’ campaign, under which SMSs and emails will be sent to high-risk taxpayers, advising them to review and revise their income-tax returns on or before December 31, 2025 to avoid penal consequences.
Analysis of the Automatic Exchange of Information (AEOI) for FY 2024-25 (CY 2024) by CBDT has identified high-risk cases where foreign assets appear to exist but have not been reported in the ITRs filed for AY 2025-26.
The campaign from November 28 aims to facilitate correct reporting in Schedule Foreign Assets (FA) and Foreign Source Income (FSI) in ITRs.