CBDT Launches Second NUDGE Drive for Foreign Asset Disclosure

28 Nov 2025 CW Team

The Central Board of Direct Taxes (CBDT) has recently launched the second phase of its NUDGE initiative to improve voluntary compliance relating to foreign assets. Based on the latest Automatic Exchange of Information (AEOI) data for FY 2024–25, the department has identified high-risk cases where foreign assets may exist but were not reported in Income Tax Returns for AY 2025–26. From 28 November 2025, CBDT will issue SMS and email advisories to these taxpayers, urging them to review and revise their returns by 31 December 2025 to avoid penal consequences.

The initiative aims to ensure accurate reporting in Schedule Foreign Assets (FA) and Schedule Foreign Source Income (FSI), in line with statutory obligations under the Income-tax Act, 1961, and the Black Money Act, 2015. Using its PRUDENT approach, CBDT continues to leverage data analytics to simplify compliance, reduce information gaps and strengthen a transparent, trust-based interface with taxpayers. This second NUDGE campaign builds on the success of the first drive, launched in November 2024, which prompted over 24,000 taxpayers to disclose foreign assets worth Rs 292.1 billion and foreign income of Rs 10.4 billion.

CBDT receives foreign asset information through CRS and FATCA frameworks, enabling it to identify discrepancies and guide taxpayers towards timely and complete compliance.

Infrastructure Urban

16 Jan 2026

Rosatom Delivers Nuclear Fuel for Kudankulam Unit 3

Rosatom has recently supplied nuclear fuel for the initial loading of the VVER-1000 reactor core at Unit 3 of the Kudankulam Nuclear Power Plant, marking a key milestone in the second stage of the Russian-designed nuclear power project in southern India.The fuel was supplied by Rosatom’s Nuclear Fuel Division, managed by TVEL, and manufactured at the Novosibirsk Chemical Concentrates Plant. The delivery includes the initial reactor load along with reserve fuel assemblies and is part of a long-term contract covering the entire operational life of Units 3 and 4.Building on operational experien..

CBL International Enables First LNG Bunkering at Xiaomo Port

CBL International recently completed the first-ever LNG bunkering operation at Xiaomo Port, supplying liquefied natural gas to vessels operated by BYD in support of its maritime decarbonisation strategy. The operation was facilitated through a physical supplier in collaboration with China National Offshore Oil Corporation (CNOOC), which supported the port’s inaugural LNG bunkering activity. The milestone represents a strategic expansion of CBL International's sustainable fuel offerings beyond biofuels, while also diversifying revenue streams. As global shipping intensifies efforts to cut em..

Aimtron, Aurassure Partner for IoT Weather Systems

Aimtron Electronics has recently entered into an OEM manufacturing engagement with Aurassure to produce new-age, IoT-enabled weather and environmental monitoring systems in India. The collaboration supports the growing demand for real-time environmental intelligence across urban, industrial and infrastructure applications. The engagement comes as global focus on climate-risk management and data-driven planning accelerates. The global weather monitoring systems market, valued at around USD 2.1 billion in 2024, is projected to reach nearly USD 4.8 billion by 2034, driven by the rapid adoption o..