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Foreign Assets Disclosure Scheme 2026: ₹1 crore limit, 30% tax and December 31 deadline — all you need to know
A new government scheme will open on August 16, 2026, for taxpayers to disclose foreign assets. This one-time voluntary disclosure scheme closes on December 31, 2026, for eligible individuals. Taxpayers can declare undisclosed foreign assets or income up to one crore rupees. Certain foreign assets already offered to tax can be declared if their value exceeds five crore rupees. The entire process for this disclosure scheme will be conducted online.
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economictimes.indiatimes.com
Govt opens window for disclosure of foreign assets, income
The government has opened a limited window for taxpayers to disclose specified foreign assets and income. Two routes offer eligibility thresholds of ₹1 crore and ₹5 crore, with…
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thehindubusinessline.com
Income Tax Department rolls out foreign asset disclosure scheme for small taxpayers
Income Tax Department launches a scheme for small taxpayers to disclose foreign assets up to ₹5 crore until December 2026.
