Compliance Portal 2025
Foreign Asset Disclosure Notice & Authenticity Guide (AY 2025-26)
Understanding the "NUDGE" Campaign
In late November 2025, the Central Board of Direct Taxes (CBDT) initiated a pivotal transparency drive known as the "NUDGE" initiative. This campaign targets Indian residents whose foreign assets—specifically those held in the United States or other international jurisdictions during Calendar Year 2024—were not properly disclosed in their tax returns for Assessment Year 2025-26.
If you have received an email from an @insight.gov.in address, consider it a pre-emptive alert rather than a formal scrutiny notice. The Income Tax Department is leveraging international data-sharing frameworks like FATCA and CRS to cross-verify your holdings. Essentially, the department already "knows" about the assets; they are simply offering a window for voluntary correction.
Failing to report foreign holdings is a grave offense under the Black Money Act, 2015, which carries penalties up to 120% of the asset's value and potential imprisonment of up to 10 years.
Why the Deadline Matters
The cut-off date of December 31, 2025, is crucial. This is the last legal opportunity to file a Revised Return under Section 139(5). Beyond this date, taxpayers may be forced to use the "Updated Return" mechanism, which involves additional taxes and more complex compliance requirements.
Transparency in Action
The data originates from agreements where foreign institutions report non-resident account details to their local authorities, who then share it with India. This automatic exchange ensures that even dormant accounts or those with zero balance in the USA or UK are flagged if they weren't listed in Schedule FA.
Risk Assessment Tool
Slide to see potential liabilities vs. disclosure cost
Revision Roadmap
Follow these steps to file your Revised Return
Portal Login
Login to the official income tax portal with your PAN. This is the first step to confirm if you have any 'Pending Actions' under the compliance portal dashboard.
Authenticity Check
Notices from @insight.gov.in are official. Verify them by logging into your account under "Pending Actions" → "Compliance Portal".
FATCA & CRS
India receives data from 100+ countries automatically. Data includes account balances, peak values, and income types from Jan-Dec 2024.
Reporting Period
Unlike domestic income, foreign assets are reported on a Calendar Year (CY) basis for Indian tax purposes in Schedule FA.
