<h1>Taxpayers report Rs 29,208 crores in foreign assets after tax authorities cross-check international data</h1> Tax authorities received information about deposits in foreign bank accounts through international exchange mechanisms with 100+ jurisdictions, including Switzerland's Automatic Exchange of Information framework operational since 2018. For assessment year 2024-25, authorities compared foreign asset data with income tax returns, prompting SMS and email notifications to taxpayers. Consequently, 24,678 taxpayers reviewed their returns and 5,483 filed belated returns, reporting foreign assets worth Rs. 29,208 crores and additional income of Rs. 1,089.88 crores. Total foreign asset reporting increased 45.17% to 2.31 lakh taxpayers. Enforcement actions continue against non-compliant taxpayers under existing legal provisions.