https://www.taxtmi.com/article/detailed?id=15826 The Foreign Assets of Small Taxpayer Disclosure Scheme, 2026 allows eligible persons to voluntarily declare undisclosed foreign income and assets up to 31.03.2026, subject to electronic verification. Payable amounts equal tax at 30% on each undisclosed asset and on undisclosed foreign income plus an additional amount equal to 100% of such tax, applicable only where aggregate undeclared value does not exceed Rs. 1 crore; a fee of Rs. 1 lakh applies. Valid declarants who pay as required receive immunity from further tax, penalty and prosecution under the Black Money Act; payments are non refundable and certain proceeds of crime and completed Black Money Act assessments are excluded. en-us Sat, 07 Feb 2026 07:12:45 +0530 Sat, 07 Feb 2026 07:12:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=15826 The Foreign Assets of Small Taxpayer Disclosure Scheme, 2026 allows eligible persons to voluntarily declare undisclosed foreign income and assets up to 31.03.2026, subject to electronic verification. Payable amounts equal tax at 30% on each undisclosed asset and on undisclosed foreign income plus an additional amount equal to 100% of such tax, applicable only where aggregate undeclared value does not exceed Rs. 1 crore; a fee of Rs. 1 lakh applies. Valid declarants who pay as required receive immunity from further tax, penalty and prosecution under the Black Money Act; payments are non refundable and certain proceeds of crime and completed Black Money Act assessments are excluded. Articles Budget - Tax Proposals Sat, 07 Feb 2026 07:12:45 +0530 https://www.taxtmi.com/article/detailed?id=15826