Foreign Assets Disclosure in ITR: Know Why It’s Essential and What You Need to Report
01 July 2025Saloni Kumari
Foreign Assets Disclosure in ITR: Know Why It’s Essential and What You Need to Report
As we all are aware, the deadline for filing the income tax return (ITR) for the financial year 2024-25 (assessment year 2025-26) has now been extended till September 15, 2025 (for non-audit taxpayers). Taxpayers are now advised to pay any pending dues (if any) and finish the return filing before the set deadline. In compliance with the tax guidelines, it is essential to report any foreign income or assets, including shares held in foreign companies, along with your income details.