Government Launches One-Time Foreign Assets Disclosure Window

The government will open a disclosure window from August 16, 2026, to December 31, 2026, for taxpayers to declare undisclosed foreign assets and income.

Assets up to ₹1 crore face a 60% total tax and levy, while assets up to ₹5 crore acquired by non-residents incur a flat ₹1 lakh fee.

Valid declarations provide immunity from prosecution under the Black Money Act, 2015, provided the tax and levies are paid within the specified deadlines.