FAST-DS 2026: last date for a foreign-asset declaration is 31 December 2026
The FAST-DS Rules, 2026 (Notification No. 114/2026, G.S.R. 732(E), 14 August 2026) came into force on 16 August 2026. Rule 2(4) fixes the scheme's last date as 31 December 2026. A declaration under the Foreign Assets of Small Taxpayers Disclosure Scheme must be made on or before that date.
- Last date for a FAST-DS declaration31 December 2026
What this means
Section 132 of the Finance Act, 2026 allows a declaration only on or before the last date. As notified, the window closes on 31 December 2026, and valuation is at 31 March 2026.
Who is affected
Persons within the scheme's definition of "assessee" in section 131(1)(a) of the Finance Act, 2026 who hold undisclosed foreign assets or foreign income of the kind the scheme covers. Eligibility conditions in Chapter IV of the Act and in the Rules apply; not every foreign asset or taxpayer qualifies.
What you should do
If you hold a foreign account, foreign shares or property abroad that was never reported in an Indian return, check eligibility and the valuation well before 31 December 2026. Start with our guide to the scheme.
What changed
The CBDT notified the Foreign Assets of Small Taxpayers – Disclosure Scheme Rules, 2026 by Notification No. 114/2026 (G.S.R. 732(E)) dated 14 August 2026, under section 143 of the Finance Act, 2026. The Rules came into force on 16 August 2026.
Rule 2(4) provides that, for the purposes of the Act and the Rules, the "last date" means 31 December 2026. Section 132 of the Finance Act, 2026 allows a declaration under the scheme to be made on or before the last date.
The Rules set the valuation date as 31 March 2026 and prescribe Forms 1 to 4 for the declaration and the steps that follow it.
Who can declare, what can be declared and the amount payable are governed by Chapter IV of the Finance Act, 2026 and the Rules. Our guide to the scheme sets these out with the primary sources.
Source & verification
Notification No. 114/2026 [F.No. 370142/18/2026-TPL], G.S.R. 732(E), dated 14 August 2026 (CBDT): Foreign Assets of Small Taxpayers – Disclosure Scheme Rules, 2026
Read the official sourceRead and verified on 14 October 2026. We publish on the authority’s own instrument, never on a report of it.