Foreign Assets Disclosure Scheme 2026: ₹1 crore limit, 30% tax and December 31 deadline
- Posted on August 15, 2026
- By Business News Today
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Foreign Assets Disclosure Scheme 2026: ₹1 crore limit, 30% tax and December 31 deadline
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.
