💨 Abstract

The Central Board of Direct Taxes (CBDT) has initiated a Compliance-Cum-Awareness Campaign for Assessment Year 2024-25 to assist taxpayers in correctly reporting foreign assets and income in their Income Tax Returns (ITR). This campaign, aligned with the Black Money Act, aims to encourage voluntary compliance, streamline the compliance process, and foster a taxpayer-friendly environment.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖