06/10/2026
⚠️ Received the FAST-DS 2026 Foreign Assets Advisory?
The Income Tax Department is sending taxpayers voluntary-compliance advisories where its information may indicate overseas financial interests such as foreign bank accounts, shares, investments or property.
📅 FAST-DS deadline: 31 December 2026
But receiving the advisory does not automatically mean you must file Form 1 or pay ₹1 lakh/60%.
FAST-DS broadly distinguishes between:
🔴 Undisclosed foreign assets/income within ₹1 crore — effective 60% outgo.
🟢 Specified foreign assets whose source was tax-paid/qualifying NRI income but reporting was missed within ₹5 crore — flat ₹1 lakh fee.
Before deciding, check:
✅ Foreign Assets Information in AIS
✅ Residential status
✅ Source of investment
✅ Earlier ITR and Schedule FA
✅ Foreign income and tax paid
✅ Correct valuation
✅ FAST-DS eligibility
Foreign bank-account valuation can also be very different from the closing balance.
Read the detailed guide:
FAST-DS 2026 Advisory Email – Complete Filing Guide
For eligibility, valuation and filing assistance:
FAST-DS 2026 Filing & Compliance Assistance