Online Session: India's Foreign Asset Disclosure Scheme (FAST-DS)

Poster: High Commission of India in Cyprus

The High Commission of India in Cyprus is holding an online information session on FAST-DS, the Foreign Assets of Small Taxpayers Disclosure Scheme announced in India's Budget 2026. Declarations under the scheme close on 31 December 2026, so this is a timely chance to understand what it means for you and ask questions.

Event details

• Date: Monday, 16 November 2026
• Time: 4:30 PM – 5:30 PM (Cyprus time)
• Where: Online webinar (joining details are sent after registration)
• Register: High Commission registration form. You can add your own questions about the scheme on the form.

Questions the session will cover

• What should I do if I hold foreign assets as an Indian resident?
• As a non-resident, do I need to disclose my foreign assets?
• What counts as a foreign asset?
• What if I forgot to disclose a foreign asset?

Programme

• 4:30–4:40: Welcome and introduction by Mr Manish Bajaj, Attaché (Commerce)
• 4:40–5:00: Presentation on FAST-DS by Mr Subhash Jangala, First Secretary
• 5:00–5:10: Questions and answers
• 5:10–5:15: Closing remarks

Who it's for: Indian professionals in Cyprus in every sector, including IT, shipping, pharmaceuticals, research and hospitality, and Indian entrepreneurs.

About FAST-DS in brief: India's tax department says the scheme lets eligible small taxpayers, for example students, early-career professionals, people working in tech and Indians who have relocated abroad, declare certain foreign assets or income they left out of their Indian tax returns, in return for immunity from further penalties and prosecution under the Black Money Act. Rules, limits and costs depend on your situation, so use the session to check how it applies to you. (Source: The Tribune / PTI)