BusinessQuiet 91d · day 91
India opens one-time disclosure window for undisclosed foreign assets
Government allows citizens to declare foreign assets and income up to Rs 5 crore by December 31 with reduced penalties.
What to know
- India's government opened a voluntary disclosure window for undisclosed foreign assets effective August 16, 2026, running through December 31.
- Citizens can disclose up to Rs 5 crore in foreign assets and income with reduced tax penalties under the scheme.
- The Income Tax Department has notified the formal rules governing the disclosure process.
Government of India Policy initiatorIncome Tax Department Implementation authority
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