<h1>Income-Tax 'Trust First' Campaign Spurs 45% Rise in Foreign Asset Disclosures, Rs 1,000 Crore Tax Collected</h1> Over 30,000 taxpayers declared foreign assets worth Rs 29,208 crore and paid Rs 1,000 crore in taxes following a special campaign by the Income-tax department. The 'Trust First' initiative, launched in November 2024, encouraged taxpayers to accurately report overseas income. The campaign contacted 19,501 taxpayers with significant foreign income, leading to 24,678 reviewing their returns and 5,483 filing belated returns for the 2024-25 assessment year. Additionally, 6,734 taxpayers revised their residential status. The initiative, emphasizing voluntary compliance, saw a 45.17% increase in disclosures compared to the previous year, fostering a compliance-friendly environment.