The Central Board of Direct Taxes (CBDT) officially launched the Foreign Asset Disclosure Scheme (FAST-DS) 2026 on Monday, targeting small taxpayers with undisclosed foreign holdings.
The window allows taxpayers to declare previously undisclosed foreign income and assets, providing a structured path to compliance under the new tax amnesty framework.
Taxpayers are encouraged to utilize this window to avoid potential penalties, as the government aims to increase transparency regarding offshore financial holdings held by Indian residents.