Foreign Assets of Small Tax Payers Disclosure Scheme,2026

This edition of Foreign Assets of Small Tax Payers Disclosure Scheme, 2026 (FAST-DS 2026), effective from 16-8-2026, provides a comprehensive and practical legal reference for taxpayers, tax professionals, chartered accountants, advocates, and professionals dealing with disclosure and taxation of foreign assets. Authored by Ram Dutt Sharma and published by Commercial Law Publishers (India) Pvt. Ltd., the book incorporates the latest Foreign Assets of Small Taxpayers – Disclosure Scheme Rules, 2026, dated 14-08-2026 and effective from 16-8-2026.

The book is designed to facilitate a clear understanding and effective implementation of the newly introduced disclosure framework relating to foreign assets held by small taxpayers. It serves as a useful reference for taxpayers seeking to comply with the applicable disclosure requirements and for professionals advising on foreign asset reporting and tax compliance.

The content covers the key aspects of the Foreign Assets of Small Tax Payers Disclosure Scheme, 2026, along with the corresponding Rules, including:

• Foreign asset disclosure requirements applicable to eligible small taxpayers
• Scope and applicability of the FAST-DS 2026 framework
• Conditions and eligibility requirements under the disclosure scheme
• Prescribed procedures and documentation for making disclosures
• Relevant declarations, particulars, and compliance requirements
• Treatment and reporting of foreign assets covered by the scheme
• Provisions relating to the Foreign Assets of Small Taxpayers – Disclosure Scheme Rules, 2026
• Effective dates, procedural requirements, and statutory timelines
• Compliance considerations for taxpayers with undisclosed or unreported foreign assets
• Practical reference material for understanding and implementing the new disclosure mechanism