Archive · 14 Dec 2025
Income-Tax Department Urges NRIs to Declare Foreign Assets
The Income Tax Department in Indore is asking Non-Resident Indians (NRIs) to tell them about any foreign money or property they have.
They can do this through a program called NUDGE-2.0.
If NRIs tell the department about their foreign assets by December 31, they won't have to pay big fines.
The department explained how to do this in a meeting.
They talked about what happens if you don't tell them and how to fill out the forms correctly.
Many people joined the meeting and asked questions, especially about foreign stocks and special plans some companies offer.
The meeting was very helpful, and people liked how clear and simple the information was.
Income Tax Department encourages NRIs in Indore to voluntarily disclose foreign assets and income under the NUDGE-2.0 scheme.
The last date for compliance is December 31 to avoid hefty penalties.
An outreach program was held to explain the features of NUDGE-2.0 and how to correctly fill out the FA & FSI schedules.
Participants raised queries about Employee Stock Ownership Plans (ESOPs) and foreign shares, which were addressed by officials.
The program was well-received, with participants appreciating the clarity and comprehensive guidance provided.
- Who
- Non-Resident Indians (NRIs) in Indore
- What
- Voluntary disclosure of Foreign Assets and Foreign Source Income (FA & FSI)
- When
- Last date for compliance is December 31
- Where
- Indore, Madhya Pradesh
- Why
- To avoid hefty penalties and ensure compliance with tax regulations
- Location
- Indore, Madhya Pradesh
- Target Group
- Non-Resident Indians (NRIs)
- Scheme Name
- NUDGE-2.0
- Last Date for Compliance
- December 31
- Assessment Year
- 2025-26
- Key Officials
- Commissioner Bharti Singh, JCIT Sanjiv Kumar, Deputy Director Rishi Kumar, Deputy Commissioner Ganesh Tengle
