Indian taxpayers must disclose foreign income and assets in their income tax return each year to avoid penalties up to ₹10 lakhs. Deadline to report foreign assets, importance of such a disclosure among other details explained here. Indian taxpayers must disclose foreign income and assets in their income tax return each year to avoid penalties up to ₹10 lakhs. Deadline to report foreign assets, importance of such a disclosure among other details explained here. by Soban News (international And National News)