Foreign assets disclosure scheme permits declarations for omitted income, non-filing, and escaped assessment cases. A declaration may be made under the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026, by any person on or after commencement and before the last date in respect of any previous year and any income or asset covered by the Scheme. The declaration applies where the person failed to furnish a return, failed to disclose the income or asset in a return already furnished before commencement, or where the income or asset has escaped assessment.
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 scheme permits declarations for omitted income, non-filing, and escaped assessment cases.
A declaration may be made under the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026, by any person on or after commencement and before the last date in respect of any previous year and any income or asset covered by the Scheme. The declaration applies where the person failed to furnish a return, failed to disclose the income or asset in a return already furnished before commencement, or where the income or asset has escaped assessment.
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