The Income Tax department on Saturday said the declarations under the Foreign Assets of Small Taxpayers-Disclosure Scheme (FAST-DS) can be filed till December 31, 2026, and the taxpayers will face a 30 per cent tax plus an additional levy of a similar amount.

The scheme for voluntary disclosure of foreign asset for small taxpayers like students, young professionals, tech employees, and relocated NRIs was announced in the 2026-27 Budget.