CBDT notifies Revised Income Tax Return Form ITR-2

The CBDT has introduced a revised ITR-2 form with additional disclosure requirements, including details of foreign assets, agricultural income, and virtual digital assets. The updated form aims to enhance tax transparency and compliance by ensuring comprehensive reporting of financial transactions. The changes reflect the government's efforts to align India's tax reporting standards with global practices and improve scrutiny of high-value transactions and cross-border financial activities.