Indore (Madhya Pradesh): Income Tax officers have encouraged Non-Resident Indians (NRIs) of the city to voluntarily disclose their Foreign Assets and Foreign Source Income (FA & FSI) by participating in the Non-Intrusive Usage of Data to Guide & Enable (NUDGE-2.0) drive of the Income Tax Department. By participating in the scheme, the defaulting taxpayers can avoid the levy of hefty penalties. The last date for compliance under the drive is December 31.
The features of the NUDGE-2.0 drive were explained during an outreach programme held at the premises of a company. The programme was organised under the leadership of Commissioner of Income Tax (TDS) Bharti Singh and under the guidance of Joint Commissioner of Income Tax (JCIT-TDS), Range Indore, Sanjiv Kumar. NUDGE-2.0 is an initiative aimed at ensuring compliance with the Schedule of Foreign Assets and Foreign Source Income (FA & FSI) in the Income Tax Return (ITR) for the Assessment Year (AY) 2025-26. The programme was organised in coordination with the additional director of Income Tax (Investigation), Indore, and joint director of Income Tax (JDIT) of the Foreign Assets Intelligence Unit (FAIU), Bhopal.
Sanjiv Kumar, JCIT (TDS), Indore; Rishi Kumar, deputy director of Income Tax (Investigation Wing), Indore; and Ganesh Tengle, deputy commissioner of Income Tax (TDS), explained the key features of NUDGE-2.0. A detailed presentation was made covering the FA & FSI schedules, along with a step-by-step guide on how to fill them correctly. Participants were also made aware of the consequences of non-disclosure of FA & FSI in the ITR, and common errors made by taxpayers while filing these schedules were explained.
A large number of participants joined the programme both online and offline. Several queries were raised, particularly regarding Employee Stock Ownership Plans (ESOPs) and foreign shares and stocks, and all were addressed to the satisfaction of the participants. Some valuable suggestions shared by the participants were also duly noted.
The programme was well received, with participants expressing special appreciation for the clarity, simplicity and comprehensive guidance provided during the sessions. Priya Ranjan, ITO (TDS-1), and income tax inspector Jai Shankar Jha were also present at the outreach programme.
