Immunity from tax, penalty and prosecution follows a valid declaration under the foreign assets disclosure scheme.

A declarant making a valid declaration under the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 and paying the amount required under the Scheme is granted immunity from any further tax or penalty and from prosecution under the Black Money Act, 2015 for the income or asset declared. The immunity applies to the previous year ending on 31 March 2026 or any earlier previous year.

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