# FAST-DS 2026: Rules for valuing foreign assets notified 2026-08-17T16:47:14+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 2 independent outlets (3 source reports) The Central Board of Direct Taxes (CBDT) has notified the rules for the Foreign Assets of Small Taxpayers Disclosure Scheme (FAST-DS) 2026, a one-time voluntary window to declare certain undisclosed foreign assets and income. The scheme came into effect on 16 August 2026 and will remain open until 31 December 2026. Livemint reports that the fair market value (FMV) of assets such as shares, bank accounts and property is the higher of the purchase cost or the open-market value as of 31 March 2026. For foreign bank accounts, taxpayers must aggregate eligible deposits from the date of opening, excluding amounts withdrawn and later redeposited. The Economic Times reports that FAST-DS has two categories: Category 1, for undisclosed foreign income or assets up to Rs 1 crore, requires a 30% tax plus an equal penalty, Category 2, for technical non-reporting of assets up to Rs 5 crore, requires a flat Rs 1 lakh fee. The scheme provides immunity from further tax, penalty and prosecution under the Black Money Act. Under the Black Money Act, failure to disclose foreign assets can attract a Rs 10 lakh penalty per year, a flat 30% tax and a penalty of up to 300% of the tax. FAST-DS offers a significantly lower liability for eligible small taxpayers, including returning NRIs and employees holding foreign employee stock options. ## Indian Opinion Analysis All three sources report the FAST-DS rules as a neutral procedural story. Livemint focuses on the technical valuation methods and the steep penalty comparison, which serves as a practical warning to taxpayers. The Economic Times frames the scheme as a relief measure for small taxpayers, emphasising the five-stage implementation timeline and the Finance Minister's intent to address practical issues. There is no government-critical or sensationalist angle, the coverage uniformly positions the scheme as a beneficial compliance window. The key takeaway is that taxpayers have until 31 December 2026 to declare assets, and the choice between Category 1 and Category 2 depends on whether the income was already taxed. The scheme significantly reduces penalties compared to the Black Money Act, making early action crucial. ## Coverage Coverage: 3 sources, 3 neutral - livemint.com (neutral report) Straight procedural guide on valuation methods, no slant. - livemint.com (2) (neutral report) Frames scheme as a relief window but highlights steep penalties and valuation challenges. - economictimes.indiatimes.com (neutral report) Explains legislative progression and two categories without editorialising. This story was synthesised by AI from the 3 sources linked above. Updated: this story now draws on 3 sources. Last updated 2026-08-19T13:38:16+00:00. Tags: CBDT, FAST-DS, RBI Canonical: https://indianopinion.org/foreign-asset-disclosure-scheme-2026-market-value-rules-explained/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/foreign-asset-disclosure-scheme-2026-market-value-rules-explained/#story-in-brief How this brief was made: an AI model read the reports linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. Stance labels are editorial classifications of how each outlet framed this story, assigned by the same model, not ratings of the outlets. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/