FAST-DS Eligibility & Tax Calculator

FAST-DS is a one-time voluntary disclosure scheme introduced under the Finance Act, 2026. It provides eligible taxpayers an opportunity to disclose certain previously undisclosed foreign assets or foreign income, or foreign assets omitted from Income Tax Return disclosures, by paying the prescribed tax or fee.

A person who was resident in India during the relevant previous year may qualify under the scheme. Certain taxpayers who are currently Non-Resident or Resident but Not Ordinarily Resident (RNOR) may also qualify if they were resident in India during the year in which the foreign income arose or the foreign asset was acquired, subject to the applicable conditions.

Eligible disclosures may include:

• Foreign bank and depository accounts.
• Foreign shares, securities, ESOPs and RSUs.
• Foreign immovable properties.
• Foreign insurance and annuity contracts.
• Financial interests in foreign entities.
• Undisclosed foreign income that was chargeable to tax in India.
• Other qualifying foreign assets covered by the scheme.

Eligibility depends on the source of funds, ownership and applicable disclosure conditions.

Category 1 – Undisclosed Foreign Assets or Income:

Applicable to qualifying undisclosed foreign assets or foreign income that was chargeable to tax in India but was not offered to tax. The aggregate value must not exceed ₹1 crore.

Category 2 – Foreign Assets with Explained Sources:

Applicable to qualifying foreign assets acquired from income earned while the taxpayer was Non-Resident, or from income already offered to tax in India, but not reported in the relevant foreign asset schedule. The aggregate asset value must not exceed ₹5 crore.

Under Category 1, the taxpayer is required to pay:

• Tax at 30% of the declared foreign asset value or undisclosed foreign income, as applicable.
• An additional amount equal to the tax payable.

Therefore, the combined amount payable is generally 60% of the applicable declared value or income.

Category 2 requires a fixed prescribed fee of ₹1,00,000, provided the qualifying aggregate value of foreign assets does not exceed ₹5 crore and all other eligibility conditions are satisfied.

Yes, qualifying foreign assets acquired from income earned outside India during the period when the taxpayer was Non-Resident may be covered under Category 2. However, the assets must satisfy the applicable conditions, including non-disclosure in the relevant foreign asset schedule after the taxpayer becomes resident in India.

Foreign assets acquired from income already offered to tax under the Income-tax Act, 1961, but omitted from the relevant foreign asset schedule, may qualify under Category 2, subject to the scheme conditions. The source of funds and reporting history must be verified.

The scheme is not available in specified cases involving:

• Income or assets representing, directly or indirectly, proceeds of crime where proceedings have been initiated or are pending under the Prevention of Money Laundering Act, 2002 (PMLA).
• Income or assets relating to an assessment year for which assessment proceedings have already been completed under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (Black Money Act).

Taxpayers should verify these exclusions before submitting a declaration.

Yes. A valid declaration followed by payment of the prescribed amount provides immunity from further tax, penalty and prosecution under the Black Money Act in respect of matters covered by the declaration, subject to the applicable statutory conditions.

The FAST-DS declaration window is open from 16 August 2026 to 31 December 2026. Eligible taxpayers must submit Form 1 within the prescribed period.

No. The EZTax FAST-DS Eligibility & Tax Calculator provides an indicative assessment based on the information entered. It helps identify the potentially applicable category and estimate the prescribed tax, additional amount or fee. Final eligibility, asset valuation and payment liability are subject to the applicable statutory provisions and verification by the Income Tax Department.

Disclaimer: The results provided by this calculator are indicative and for informational purposes only. They should not be treated as confirmation of eligibility or final tax liability. Eligibility, asset valuation and the amount payable are subject to the provisions of the Finance Act, 2026, the FAST-DS Rules, 2026 and other applicable legal requirements. Taxpayers are advised to consult a qualified tax professional before submitting a declaration.