Submitted By: Saurabh Kesarwani
PRESS RELEASE _CBDT launches 2nd NUDGE initiative to strengthen voluntary compliance in respect of Foreign Assets
This press release announces the launch of the second NUDGE initiative by the Central Board of Direct Taxes to promote voluntary compliance relating to disclosure of foreign assets. The initiative leverages data analytics to alert taxpayers of potential non-disclosure, encouraging timely review and accurate reporting under the Income-tax Act, thereby reducing non-compliance and litigation.
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