New Delhi, Aug. 18 -- The Central Board of Direct Taxes (CBDT) has notified the rules for the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 (FAST-DS), giving eligible taxpayers a one-time window to declare certain undisclosed foreign assets and income. The scheme, which came into effect on 16 August, will remain open until 31 December.

FAST-DS is aimed at small taxpayers who have inadvertently missed disclosing foreign assets and income, including returning non-resident Indians (NRIs), individuals with overseas bank accounts or investments, and employees holding foreign employee stock options (Esops) or restricted stock units (RSUs). The scheme is also available to NRIs and resident but not ordinarily resident (RNOR) Indians ...