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Foreign Bank Account or Shares Not Reported in ITR? Can You Use the New FAST-DS 2026 Scheme?

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Did you forget to report a foreign bank account, overseas shares or other investments in your Indian Income Tax Return (ITR)? Even if the money was earned outside India or the investment was made several years ago, failing to disclose applicable foreign assets can create income tax compliance problems. To address certain past disclosure lapses, the Government of India has introduced the Foreign Assets of Small Taxpayers – Disclosure Scheme, 2026 (FAST-DS 2026) . This one-time voluntary disclosure scheme provides eligible taxpayers an opportunity to declare specified undisclosed foreign assets or income by paying the prescribed tax or fee. The declaration window is open from 16 August 2026 to 31 December 2026 . However, the scheme does not cover every foreign investment or every taxpayer. Understanding its eligibility conditions, payment requirements, and exclusions is essential before submitting a declaration. What Is FAST-DS 2026? FAST-DS 2026 is a one-time voluntary disclosure schem...
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How a Chartered Accountant Helps Your Business Grow: 10 Practical Ways

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  Short answer: A Chartered Accountant (CA) helps your business grow by keeping your numbers accurate, cutting avoidable tax, keeping you compliant, managing cash flow and preparing the documents that banks and investors ask for, such as a project report . A good CA works as a financial advisor throughout the year, not only at tax filing time. Key points A CA turns raw accounts into reports you can use to make decisions. Planned tax saving is legal and safer than last-minute saving. A CA-prepared project report improves your chances of a business loan. Early advice on structure, GST and registrations avoids costly corrections later. 10 Ways a CA Helps You Grow Clean books and monthly reports. You see sales, expenses and profit every month, so you can act while there is still time. Tax planning. Your CA picks the right regime, claims every eligible deduction and plans advance tax, so there are no surprises. GST compliance. Correct invoicing, timely returns and input tax credit r...
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Location: India
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