The Central Board of Direct Taxes (CBDT) notified the Foreign Assets of Small Taxpayers–Disclosure Scheme (FAST-DS) Rules, 2026, which came into force on 16 August 2026. FAST-DS is a one-time voluntary disclosure scheme brought in under Chapter IV of the Finance Act, 2026. Eligible small taxpayers can declare undisclosed foreign assets or foreign income by paying the prescribed tax or fee, giving them a legal route to regularise such holdings. Declarations will be accepted only until 31 December 2026.