FAST-DS 2026: Foreign Assets Disclosure Scheme Explained – Eligibility, ₹1 Crore & ₹5 Crore Limits, Tax, Fee and Filing Process
FAST-DS 2026: Foreign Assets Disclosure Scheme Explained – Eligibility, ₹1 Crore & ₹5 Crore Limits, Tax, Fee and Filing Process FAST-DS 2026 has opened a limited-time opportunity for eligible taxpayers to regularise certain previously undisclosed foreign assets and foreign income. The Foreign Assets of Small Taxpayers – Disclosure Scheme, 2026 (FAST-DS) is a one-time voluntary disclosure scheme introduced under Chapter IV of the Finance Act, 2026 , covering sections 130 to 144, read with the Foreign Assets of Small Taxpayers – Disclosure Scheme Rules, 2026. The scheme came into force on 16 August 2026 , and the last date for filing a declaration is 31 December 2026 . The valuation date for assets covered by the scheme is 31 March 2026 . For taxpayers who have an old overseas bank account, foreign shares, ESOPs/RSUs, overseas property, foreign investments or other foreign assets that were not properly disclosed in earlier income-tax returns, FAST-DS 2026 deserves immediat...