Undeclared foreign assets are a serious compliance risk under the Black Money (Undisclosed Foreign Income and Assets) Act, 2015. The FAST-DS scheme (introduced in Finance Bill 2026) offers a limited window to declare previously undisclosed foreign assets. If you think you may have missed a declaration, consult a tax advisor immediately.
📌 Every US trade leaves a compliance trail. FATCA data cross-matching means the IT department can identify undisclosed foreign assets.
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