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Income Tax Department Introduces FAST-DS for Foreign Assets Disclosure

By Rakesh Kushwaha, Lead Tech & Exam Analyst

Economy & Banking

The CBDT has notified the Foreign Assets of Small Taxpayers – Disclosure Scheme (FAST-DS) Rules, 2026, offering eligible taxpayers a one-time opportunity to voluntarily disclose certain previously undisclosed foreign assets and income.

Income Tax Department Introduces FAST-DS for Foreign Assets Disclosure

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Question 1

What is the full form of FAST-DS introduced by the Income Tax Department for foreign assets disclosure?

Question 2

Which department introduced FAST-DS to assist taxpayers with foreign asset disclosure?

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