Foreign Assets Disclosure Scheme 2026: ₹1 crore limit, 30% tax and December 31 deadline — all you need to know
MeridStreet AI summaryThe Indian government has introduced a new scheme allowing taxpayers to voluntarily disclose foreign assets and income. This one-time opportunity, which begins on August 16, 2026, and ends on December 31, 2026, aims to bring previously undeclared foreign assets into the tax fold. Taxpayers can declare assets or income up to ₹1 crore without penalty, but will face a 30% tax on the declared amount.
Read the source report: Economic Times →
Why it matters
The new scheme may bring in more tax revenue for the government. It could also increase transparency in foreign asset holdings.
Market impact
Markets & countries in focus
Transmission channels
Likely winners & losers
Winners
- Indian government bonds
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Explore the intelligence
MeridStreet does not reproduce source articles. The summary and analysis above are generated by MeridStreet from public headlines and its own market model; the original reporting belongs to Economic Times. For information only — not financial advice.