CBDT Foreign Assets of Small Taxpayers–Disclosure Scheme, 2026 (FAST-DS)
25 August 2026
PRERNA FOR IAS
Mehnat Aapki, Guidance Humari
Roz ki Prelims Practice — Experts ke Saath
CBDT Foreign Assets of Small Taxpayers–Disclosure Scheme, 2026 (FAST-DS)
Context
The Central Board of Direct Taxes (CBDT) has operationalised the Foreign Assets of Small Taxpayers–Disclosure Scheme, 2026 (FAST-DS). It is a one-time voluntary compliance window under Chapter IV of the Finance Act, 2026, intended mainly to regularise smaller or inadvertent cases of non-reporting of foreign income and assets.
Salient Points
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CBDT's Foreign Assets of Small Taxpayers Disclosure Scheme 2026 (FAST-DS): voluntary compliance window for undisclosed foreign income and assets up to ₹1 crore with 60% effective tax rate.
Keywords
FAST-DS 2026foreign assets disclosureCBDT schemeundisclosed incomeBlack Money Actvoluntary compliancetax amnestyNRI taxationautomatic exchange informationoffshore tax evasion