Overseas holdings under scrutiny: IT dept flags non-disclosure; taxpayers get last chance to revise ITRs- get details

The Income Tax department is alerting taxpayers with undisclosed foreign assets about potential penal action. Individuals identified with unreported overseas assets for AY 2025-26 will receive SMS and email advisories. They are urged to file revised returns by December 31, 2025, to ensure timely and accurate compliance with tax laws.