https://www.taxtmi.com/acts?id=54833 Amount payable under the foreign asset disclosure scheme depends on the applicable category of undisclosed foreign asset or income and compliance with its value conditions. Tax is separately computed on undisclosed assets and foreign income at the prescribed rate, with an additional penalty equal to the aggregate tax. A prescribed fee applies to qualifying foreign assets omitted from the return after the assessee became resident. Where the combined value of foreign assets exceeds the applicable threshold, declaration under the scheme is unavailable. en-us Mon, 17 Aug 2026 16:25:23 +0530 Mon, 17 Aug 2026 16:44:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=54833 Amount payable under the foreign asset disclosure scheme depends on the applicable category of undisclosed foreign asset or income and compliance with its value conditions. Tax is separately computed on undisclosed assets and foreign income at the prescribed rate, with an additional penalty equal to the aggregate tax. A prescribed fee applies to qualifying foreign assets omitted from the return after the assessee became resident. Where the combined value of foreign assets exceeds the applicable threshold, declaration under the scheme is unavailable. Act-Rules Direct Taxes Mon, 17 Aug 2026 16:25:23 +0530 https://www.taxtmi.com/acts?id=54833