New Delhi, Aug. 16 -- The Central Board of Direct Taxes (CBDT) has notified the Foreign Assets of Small Taxpayers Disclosure Scheme (FAST-DS) Rules, 2026, a one-time voluntary disclosure scheme for eligible taxpayers with certain undisclosed foreign assets or income.

CBDT has also issued detailed FAQs to explain the scheme and its rules. Here are the key questions taxpayers may have.

It is a one-time voluntary disclosure scheme that allows eligible taxpayers to declare specified undisclosed foreign assets or income that were not reported in income tax returns.

You can file a declaration from 16 August to 31 December 2026. The valuation date is 31 March 2026, and the asset's fair market value (FMV) must be calculated as on this date.

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