NEW DELHI: The revenue tax division has launched a recent marketing campaign to nudge these with abroad property or revenue to reveal particulars in India. Initially, round 25,000 high-risk instances might be focused via SMS and e-mails, with the marketing campaign proposed to be expanded mid-Dec to cowl others, and enhance the compliance ecosystem.The initiative comes precisely a 12 months after the same transfer led to just about 25,000 taxpayers disclosing Rs 29,000 crore abroad property and revenue of Rs 1,090 crore.Following evaluation of information for 2024, from different tax jurisdictions, Central Board of Direct Taxes has recognized high-risk instances by which international property appear to exist, however haven’t been reported in FY 2024-25 I-T returns, an announcement mentioned. ‘Second NUDGE’ to advise folks to overview their returns by Dec 31The “second NUDGE marketing campaign” will advise taxpayers to overview and revise their returns by Dec 31 to keep away from penal penalties. “The marketing campaign goals at facilitating appropriate reporting in Schedule International Property and International Supply Revenue (FSI) in ITRs. Correct & full disclosure of international property and revenue is a statutory requirement below the Revenue Tax Act, 1961, and the Black Cash (Undisclosed International Revenue and Property) and Imposition of Tax Act, 2015,” CBDT mentioned.The Black Cash Act has prescribed penalty of Rs 10 lakh for non-disclosure of abroad property other than tax of 30% and penalty of 300% on the taxable quantity.The revenue tax division has assessed round 1,080 instances, elevating demand of Rs 40,000 crore until June 2025.Searches have been additionally carried out in Delhi, Mumbai & Pune, based mostly on knowledge acquired on investments in Dubai, unearthing undisclosed international property and revenue value a number of lots of of crores, an official mentioned. Tax officers mentioned that as a part of the marketing campaign, massive corporations whose staff have international property and haven’t disclosed them are additionally being onboarded to sensitise taxpayers. Business our bodies, Institute of Chartered Accountants of India, and different associations have been requested to create consciousness.