{
  "id": 979143,
  "title": "Foreign Assets Disclosure Scheme 2026: ₹1 crore limit, 30% tax and December 31 deadline — all you need to know",
  "url": "https://urgent.news/2026/08/15/foreign-assets-disclosure-scheme-2026-1-crore-limit-30-tax-and",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-15T06:32:03.000Z",
  "source": {
    "name": "The Economic Times - Economy",
    "slug": "the-economic-times-economy",
    "url": "https://economictimes.indiatimes.com/news/economy/policy/foreign-assets-disclosure-scheme-2026-1-crore-limit-30-tax-and-december-31-deadline-all-you-need-to-know/articleshow/133257348.cms"
  },
  "original_language": "en",
  "account": "A new Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 has been introduced by the Indian government, effective from August 16, 2026, with a deadline for filing declarations by December 31, 2026. Eligible taxpayers can declare undisclosed foreign assets or income up to ₹1 crore or assets already offered to tax but not reported, with an aggregate value of up to ₹5 crore. The scheme covers foreign assets and income valued as of March 31, 2026. Declarations can be made by Indian residents or non-residents who were residents in India during specific previous years. The declaration process is entirely online.",
  "summary": "A new government scheme will open on August 16, 2026, for taxpayers to disclose foreign assets. This one-time voluntary disclosure scheme closes on December 31, 2026, for eligible individuals. Taxpayers can declare undisclosed foreign assets or income up to one crore rupees. Certain foreign assets already offered to tax can be declared if their value exceeds five crore rupees. The entire process…",
  "key_points": [
    "New Foreign Assets Disclosure Scheme 2026 starts August 16, 2026",
    "Taxpayers can declare foreign assets up to ₹1 crore or ₹5 crore total",
    "Declarations must be submitted by December 31, 2026"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}