Foreign assets disclosure definitions clarify assessee coverage, undisclosed foreign income, and valuation rules under the scheme. Definitions under the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 identify the persons covered, the filing concepts used in the scheme, and the meaning of key expressions governing disclosure of foreign assets and foreign income. The term assessee includes a resident in India, and also a non-resident or not ordinarily resident who was resident in India in the relevant previous year connected with the undisclosed foreign income or the acquisition year of the undisclosed foreign asset. Words not defined in the scheme take their meanings from the Income-tax Act, 1961, the Black Money Act, 2015, or the Income-tax Act, 2025, as applicable.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Foreign assets disclosure definitions clarify assessee coverage, undisclosed foreign income, and valuation rules under the scheme.
Definitions under the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 identify the persons covered, the filing concepts used in the scheme, and the meaning of key expressions governing disclosure of foreign assets and foreign income. The term assessee includes a resident in India, and also a non-resident or not ordinarily resident who was resident in India in the relevant previous year connected with the undisclosed foreign income or the acquisition year of the undisclosed foreign asset. Words not defined in the scheme take their meanings from the Income-tax Act, 1961, the Black Money Act, 2015, or the Income-tax Act, 2025, as applicable.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
