Foreign Assets of Small Taxpayers-Disclosure Scheme
In August 2026, the Government notified the Foreign Assets of Small Taxpayers - Disclosure Scheme (FAST-DS) as a one-time voluntary disclosure mechanism under Chapter IV of the Finance Act, 2026.
- It seeks to facilitate tax compliance by enabling eligible taxpayers to disclose certain previously undeclared foreign assets and income.
What is FAST-DS?
- The scheme allows eligible taxpayers to declare specified undisclosed foreign assets or foreign income by paying the prescribed tax, additional tax or fee, subject to the applicable conditions.
- For the purpose of the scheme, assets may include immovable property, jewellery, artwork, shares, securities and other assets or income.
Category ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Already a Member? Login here
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material since 2018 of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Economy Watch
- 1 Mobile Phone Manufacturing Scheme: Strengthening India’s Electronics Manufacturing
- 2 SEBI Introduces IT Resilience Index
- 3 Regenerative Agriculture: A Pathway to Sustainable and Climate-Resilient Farming
- 4 Samudra Manthan: National Offshore Exploration Scheme
- 5 Incentive Scheme for Promotion of Domestic Piped Natural Gas Connections
- 6 Container Manufacturing Assistance Scheme
- 7 Blue Bond
- 8 Bank in a Box & Security Operations Centre: Boosting UCBs
- 9 Periyar Cow
- 10 Pradhan Mantri Surya Sarovar Yojana
