17 July 2026

CBDT transparency on foreign assets data

This initiative by the CBDT represents a significant governance and transparency measure in tax administration, directly linked to the AEOI framework for curbing black money and money laundering.

Questions

1. Discuss the significance of the Automatic Exchange of Information (AEOI) framework in enhancing tax transparency and curbing black money in India. 150 words
   Attempt this — 150 words in 8 min

   0 / 150 words 8:00 Reset
2. How does the integration of international financial data into the Annual Information Statement (AIS) reflect the shift towards e-governance in tax administration? Analyze the impact of such transparency measures on voluntary tax compliance. 250 words
   Attempt this — 250 words in 11 min

   0 / 250 words 11:00 Reset

Prelims

1. Under which framework does India receive information from over 100 countries regarding foreign assets and income of taxpayers?

   1. A Common Reporting Standard (CRS) Agreement
   2. B Automatic Exchange of Information (AEOI) Framework
   3. C Base Erosion and Profit Shifting (BEPS) Framework
   4. D Foreign Account Tax Compliance Act (FATCA)

2. Where can Indian taxpayers currently view the information received by the CBDT regarding their foreign financial assets?

   1. A Through the Ministry of Finance's public transparency dashboard
   2. B Directly via email notifications from the CBDT
   3. C Through the Annual Information Statement (AIS) on the Income Tax e-Filing portal
   4. D By requesting a physical copy from the local Assessing Officer