FAST-DS Basic
Undisclosed foreign assets / foreign income
Disclosure value
Up to ₹1 Crore Only
Statutory amount
30% tax + an equal amount as penalty
Effective amount
60% of the declared value
Statutory amount
₹1 lakh fee as penalty
What you get with FAST-DS assistance
What you get with FAST-DS assistance
Eligibility Assessment
Foreign Asset Valuation Support
Documentation & Evidence Review
Form 1 Preparation & Filing Assistance
Payment & Compliance Guidance
Eligibility Assessment
Understand whether your foreign assets or income may fall within the FAST-DS framework.
Foreign Asset Valuation Support
Determine the applicable valuation approach as of 31 March 2026.
Documentation & Evidence Review
Organise acquisition, income, ownership and supporting documentation.
Form 1 Preparation & Filing Assistance
Support for preparing and electronically submitting the FAST-DS declaration.
Payment & Compliance Guidance
Understand Form 2, payment timelines, Form 3 and the final certification through Form 4.
What can be covered
Foreign bank accounts
Foreign immovable property
Foreign shares and securities
Foreign mutual funds
Jewellery and precious stones
Artistic works
Unquoted shares and securities
Foreign partnership / LLP interests
Other eligible foreign assets
Undisclosed foreign income
Who is this for?
Have foreign assets that were not disclosed
You hold an eligible foreign asset that was not reported in your earlier return, till 31 December 2025.
Have foreign income that was not offered to tax
You have eligible foreign income that was chargeable to tax in India but was not offered to tax.
Previously filed returns but missed foreign asset disclosure
The asset may have been acquired from already-taxed income but omitted from the relevant foreign asset schedule.
Acquired a foreign asset while being a non-resident
Certain assets acquired while non-resident may fall under the separate category, subject to the scheme's conditions, till 31 December 2025.
Have questions around your residential status
FAST-DS eligibility can depend on your residential status in the relevant year.
FAST-DS does not apply in certain cases
Proceeds of crime
Income or assets where relevant PMLA proceedings have been initiated or are pending.
Completed Black Money Act assessments
Assessment years where Black Money Act assessment proceedings have already been completed.
Above the statutory threshold
Declarations exceeding the applicable statutory threshold.
Filed after the deadline
Declarations filed after 31 December 2026.
Void for non-payment
Declarations that become void because the applicable amount was not paid within the permitted period.
Misrepresentation of facts
Misrepresentation or suppression of facts, subject to the specified valuation variance protection.
What ClearTax customers say
"I don't have much knowledge of finance and tax. So the tax expert did an excellent job. Your ClearTax site is also very user friendly. I am your customer for many years and will continue to be so."
"Thank you Nithin. You were very fast and helped me throughout the process. Thanks!"
"Bharath was quick to connect with me and assist with the process and also explained the tax liability well."
"I really appreciate ontime hasslefree and excellent service. Keep it up!"
"I don't have much knowledge of finance and tax. So the tax expert did an excellent job. Your ClearTax site is also very user friendly. I am your customer for many years and will continue to be so."
"Thank you Nithin. You were very fast and helped me throughout the process. Thanks!"
"Bharath was quick to connect with me and assist with the process and also explained the tax liability well."
"I really appreciate ontime hasslefree and excellent service. Keep it up!"
What we need from you
Identity & residency
PAN and basic taxpayer details, plus passport details where non-residence is claimed.
Asset & income proof
Foreign bank statements, foreign property documents, share and securities statements, mutual fund or investment statements, acquisition and purchase documents, and evidence of foreign income.
Valuation & history
Valuation reports where applicable, previous tax-return information, and evidence relating to the source or acquisition of the assets.
Your FAST-DS journey
Get Started
Share your PAN, residential-status information and details of your foreign assets or income.
Assessment & Documentation
Our team reviews your information, identifies the applicable category and helps organise the required supporting documents and valuation information.
Prepare & File Form 1
Your FAST-DS declaration is prepared with the required asset and income details, evidence and valuation information, and submitted electronically.
Payment & Certification
After the authority issues Form 2, the applicable payment is completed within the prescribed timeline. It is intimated through Form 3, followed by certification through Form 4.
Your FAST-DS journey
Get Started
Share your PAN, residential-status information and details of your foreign assets or income.
Assessment & Documentation
Our team reviews your information, identifies the applicable category and helps organise the required supporting documents and valuation information.
Prepare & File Form 1
Your FAST-DS declaration is prepared with the required asset and income details, evidence and valuation information, and submitted electronically.
Payment & Certification
After the authority issues Form 2, the applicable payment is completed within the prescribed timeline. It is intimated through Form 3, followed by certification through Form 4.
Your FAST-DS journey
Get Started
Share your PAN, residential-status information and details of your foreign assets or income.
Assessment & Documentation
Our team reviews your information, identifies the applicable category and helps organise the required supporting documents and valuation information.
Prepare & File Form 1
Your FAST-DS declaration is prepared with the required asset and income details, evidence and valuation information, and submitted electronically.
Payment & Certification
After the authority issues Form 2, the applicable payment is completed within the prescribed timeline. It is intimated through Form 3, followed by certification through Form 4.
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