Foreign asset disclosure immunity grants protection from further tax, penalty, and prosecution for valid declarants. 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 in respect of the income or asset so declared. The immunity extends to any further tax or penalty and to prosecution under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 for the previous year ending on 31 March 2026 or any earlier previous year.