India's new Foreign Assets of Small Taxpayers Disclosure Scheme (FAST-DS) 2026 offers eligible taxpayers a one-time window to disclose unreported foreign assets or income. The scheme covers assets up to ₹1 crore, with a 60% effective tax, or a flat ₹1 lakh fee for certain assets up to ₹5 crore, providing immunity from penalties.
India's FAST-DS 2026: One-time foreign asset disclosure scheme
Source: Business Today