FAQs: The Foreign Assets of Small Taxpayers Disclosure Scheme, 2026
Income tax issued FAQs on the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026.
Tag: voluntary disclosure scheme
Notification no. 114/2026 dated 14.08.2026- Income
Central Board of Direct Taxes (CBDT) issued notification no. 114/2026 dated 14.08.2026 to hereby make the following rules –
Government rolls out foreign asset disclosure scheme for small taxpayers
The Income Tax Department on Saturday (August 15, 2026) notified a new voluntary disclosure scheme allowing small taxpayers to declare certain undisclosed foreign assets and income by paying an effective 60% tax