https://www.taxtmi.com/notifications?id=146625 The Foreign Assets of Small Taxpayers Disclosure Scheme provides an electronic mechanism for declaring specified undisclosed foreign assets and foreign income, subject to aggregate-value eligibility limits. Fair market value is generally the higher of acquisition cost and market value, with separate methods for bank accounts, securities, immovable property and partnership interests. Form 1 requires asset, income, valuation and supporting details. The income-tax authority determines tax, penalty or fee in Form 2; payment and proof are furnished in Form 3. Timely payment is required, with limited interest-bearing extension. Form 4 certifies validity, settlement and the specified statutory protection. en-us Fri, 14 Aug 2026 00:00:00 +0530 Mon, 17 Aug 2026 16:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=146625 The Foreign Assets of Small Taxpayers Disclosure Scheme provides an electronic mechanism for declaring specified undisclosed foreign assets and foreign income, subject to aggregate-value eligibility limits. Fair market value is generally the higher of acquisition cost and market value, with separate methods for bank accounts, securities, immovable property and partnership interests. Form 1 requires asset, income, valuation and supporting details. The income-tax authority determines tax, penalty or fee in Form 2; payment and proof are furnished in Form 3. Timely payment is required, with limited interest-bearing extension. Form 4 certifies validity, settlement and the specified statutory protection. Notifications Income Tax Fri, 14 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/notifications?id=146625