The Income Tax Department will send SMSs/emails to 25,000 high-risk taxpayers over undisclosed foreign assets. The CBDT urges filing revised ITRs by December 31, 2025, to avoid penalties under the Black Money Act, expanding the nudge campaign nationwide
The government has raised over Rs 35,000 crore in tax and penalty demands under the Black Money Act since 2015, but recovered only Rs 338 crore. No country-specific data is maintained, and 163 prosecutions have been filed till March 2025
