THE Income Tax Department’s Investigation Wing, Nagpur, organised an outreach programme on the Foreign Assets of Small Taxpayers - Disclosure Scheme (FAST-DS), 2026, to explain its provisions, eligibility criteria and compliance requirements to tax professionals. The scheme provides eligible taxpayers an opportunity to disclose specified foreign assets and income by December 31, 2026, subject to prescribed conditions. The programme was held at the office of the Principal Director of Income Tax (Investigation) under the guidance of Principal Director Vilas Shinde, with support from the Vidarbha Tax Practitioners’ Association (VTPA). Introduced under the Finance Act, 2026, FAST-DS is a one-time voluntary disclosure initiative covering two categories of cases.

 

Shinde delivered the inaugural address, highlighting the objectives of the initiative and the need to spread awareness among tax professionals and the public. CA Mahendra Jain, President of the VTPA, addressed the gathering. VTPA Secretary CA Naresh Jakhotia and other association members also participated in the programme. The outreach initiative was organised as part of the department’s efforts to improve awareness of the scheme and encourage eligible taxpayers to complete the disclosure process within the stipulated deadline.