I-T Dept to Scrutinise Foreign Assets of Indians

NEW DELHI The Income Tax department will carry out closer scrutiny of those tax statements wherein anassessee has disclosed that he or she holds bank accounts or any other assets abroad before the current financial year ends on March 31. Sources said the drive has been undertaken by the department under instructions from its apex policy making body -the Central Board of Direct Taxes -which desires that the taxman should “examine all cases related to foreign assets“.

SOURCE:- ECONOMICS TIMES