FAST-DS 2026: Foreign Assets of Small Taxpayers Disclosure Scheme (Finance Bill 2026) — Two Categories, 6-Month Window, Pending Commencement
FAST-DS 2026, introduced via the Finance Bill 2026, gives small taxpayers a one-time 6-month window to disclose unreported foreign assets/income with immunity under the Black Money Act, 2015. The scheme has two categories (up to Rs. 1 cr and up to Rs. 5 cr). Commencement date is yet to be notified.
Vikram Mehta
@ca_vikram
Long career in direct tax and international taxation, mostly out of Pune. Views personal.