27/08/2026
Foreign Assets of Small Taxpayers – Disclosure Scheme, 2026 🌍
Do you have an undisclosed foreign bank account, overseas property, shares, or other foreign investments?
The Foreign Assets of Small Taxpayers – Disclosure Scheme, 2026 provides a specific compliance mechanism for certain eligible taxpayers.
📌 *Key Date:* 31 December 2026
💰 Certain cases may involve tax + penalty, while specified eligible assets may have a ₹1 lakh fee.
🛡️ Subject to the applicable conditions, compliance may provide immunity from further tax, penalty and prosecution under the Black Money Act.
But *this is not a blanket amnesty.* Eligibility depends on factors such as residential status, source of funds, nature and valuation of the asset, and past disclosures.
*Review first. Declare right.*