Foreign Assets Disclosure Scheme 2026: ₹1 crore limit, 30% tax and December 31 deadline — all you need to know
- Source
- The Economic Times - Economy
- Source link
- 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
- Published
- 2026-08-15 06:32:03
- Discovered by ProcIntel
- 2026-08-15 09:26:39
- Category
- Regulation, Tariffs, Sanctions & Trade
- Geography
- India
- Organisations
- —
- Review status
- Pending
- Record type
- REAL
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 for this disclosure scheme will be conducted online.
Procurement Relevance Gate
FAIL
— score 7.0/100 — evaluated 2026-08-15 09:26:39
Only geographic exposure matched — no substantive content indicator, so this cannot pass alone.
- geographic_exposure (weight 8) — matched on "1 linked geography"
Initial Signal Assessment ProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.
A provisional, automatically-computed reading of this individual Signal, before Event extraction or human review. Not a final rating.
Not Assessed — this Signal did not pass the Procurement Relevance Gate, or is fictional/excluded test data.