The Income Tax Department has recently nudged select taxpayers who have invested in residential and commercial properties in the UAE to avail of the Foreign Assets of Small Taxpayers – Disclosure Scheme, 2026 (FAST-DS), offering a one-time opportunity to declare these overseas assets which have been undisclosed so far, according to Finance Ministry sources.

The scheme provides a time-bound window to regularise eligible disclosures by paying 30 per cent tax on the fair market value and an equal amount of penalty in addition to tax. A crucial feature of the scheme is that it is fully online, trust-based, and self-declaratory.

A valid declaration brings immunity from further assessment, penalty and prosecution under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (Black Money Act). The scheme further provides an opportunity to taxpayers to report unaccounted assets and income on payment of a Rs 1 lakh fee to avoid a penalty of Rs 10 lakh each year prescribed in the Black Money Act.

Till now, approximately 1,100 taxpayers have filed applications under the scheme, which is open till December 31, 2026, sources said.

The Central government has launched the Foreign Assets of Small Taxpayers – Disclosure Scheme, 2026 (FAST-DS), offering a one-time opportunity to disclose foreign assets and income that have been undisclosed so far.

To facilitate taxpayers, the Department has created a facility in the e-filing portal where a taxpayer can see information with respect to assets reported on their PANs by the foreign jurisdictions under Automatic Exchange of Information (AEOI), popularly known as CRS/FATCA. Taxpayers can log in to the e-filing portal and download this information for the three-year period 2022-2024.

Sources informed that the information received under AEOI from the signatories of CRS/FATCA frameworks has only been displayed in the e-filing portal. Department receives information under other multilateral frameworks which has not been displayed in the portal due to various risk factors or non-disclosure commitments. Further, the Income Tax Department collects information from other sources as well. The Department decided, in a high-level meeting on October 23, that such information may also be shared with relevant taxpayers, wherever possible, to enable them to take advantage of the scheme.

The Income Tax Department has also planned outreach programmes to create awareness among taxpayers, corporates as employers, educational institutes, professional bodies and industry associations. The Central Board of Direct Taxes (CBDT), which is the apex body that heads the Income Tax Department, has also made a Committee in each region under the Principal Chief Commissioner to help taxpayers resolve their queries and concerns.

Demanding an apology, Delhi BJP President Harsh Malhotra on Monday led a massive protest near the residence of Congress President Mallikarjun Kharge at Rajaji Marg, opposing his alleged insulting remarks about the late father of Prime Minister Narendra Modi during a meeting in Patna a day earlier.

Malhotra said, “We have gathered at Kharge’s residence today to tell him that PM Modi is not merely a senior leader of the Bharatiya Janata Party, but one of the top leaders in the world and the Prime Minister of India. Kharge must apologise for his remarks.”

Our movement and protest will continue till Kharge apologises, he said, adding that wherever Kharge goes to address the public, the citizens and BJP workers will demand answers from him.

Malhotra said the entire Congress, whether it is Rahul Gandhi or Congress President Kharge, has become frustrated.

“After suffering continuous electoral defeats, they are unable to understand what to do. They repeatedly resort to creating an atmosphere of anarchy and behave as though they do not respect the law,” he said.

“They want to stage protests outside the Supreme Court, organise rallies and attempt to enter the Supreme Court premises, and at times even reach the gates of Parliament. They are people who do not respect constitutional institutions or the laws of the country,” he said.

Malhotra said that a few months ago, they attempted to shut down Delhi, which affected the entire business community of the city.

“Even today, without caring about the law, they are continuously attempting to hold protests and demonstrations at various places in Delhi, including Connaught Place, in violation of the law. By mobilising disruptive and anarchic elements, they are attempting to create an atmosphere of anarchy in Delhi and across the country,” he said.

Malhotra said Congress leaders’ frustration is increasing because the people are not with them.

“Their own people and workers are not with them, and whenever by-election results are announced, and the Congress and opposition parties suffer defeats there as well, their frustration increases further,” he said.

The protest against Kharge was joined by Delhi BJP In-charge Vinay Sahasrabuddhe and 2,000 workers of the Delhi BJP Purvanchal, Yuva and OBC Morchas.

The protest, conducted by Delhi BJP General Secretary Mohan Lal Gihara, saw party workers march towards Kharge’s residence after the leaders addressed the gathering.

Police attempted to stop the workers by putting up barricades at the Kushak Road turn. When the workers broke through the barricades and proceeded further, a heavy police contingent stopped them near Sena Bhawan.

The police then detained around 200 senior office-bearers and workers, including Delhi BJP President Malhotra, and took them to Mandir Marg Police Station in five buses.

Sahasrabuddhe said that PM Modi comes from an ordinary family and is serving the country, reaching the office of Prime Minister after immense struggle.

“An attempt has been made to insult that journey. The kind of objectionable language used by the Congress President does not befit the president of the country’s oldest political party,” he said.

Delhi BJP Vice President Rajesh Bhatia said that the Congress’ cheap mentality has once again been exposed.

Delhi BJP General Secretary Mohan Lal Gihara said that Kharge has crossed all limits of decency.

Delhi Purvanchal Morcha President Santosh Ojha said that by insulting the Prime Minister’s father, Kharge has also insulted the Purvanchal community.

Yuva Morcha President Rajat Chaudhary said that the youth rejects Congress’ politics of abusive language.

In a major push toward wildlife preservation and habitat protection across Maharashtra, the State Board for Wildlife (SBWL), chaired by Chief Minister Devendra Fadnavis, on Monday approved key environmental proposals during its 26th official meeting.

Among the landmark decisions made, the board granted Wildlife Sanctuary status to two key forest pockets and formally approved proposals for 14 new Conservation Reserves spanning seven districts.

The new Wildlife Sanctuary status has been accorded to Kolamarka Conservation Reserve (Gadchiroli district), which is widely renowned as a vital habitat for endangered Asiatic wild buffaloes (Bubalus arnee).

Kolamarka has officially been upgraded to a Wildlife Sanctuary. Further, approval was granted to expand the existing Tansa Wildlife Sanctuary by incorporating 588.767 hectares of private and revenue land from six villages (Ogda, Khodde, Tirmal, Pachghar, Phansad, and Amle) to make the sanctuary human-settlement-free.

Proposals for 14 new conservation reserves spread across Pune, Raigad, Nashik, Nandurbar, Thane, Palghar, and Chandrapur districts received official board clearance. These reserves include Velhe Mulshi (Pune / Raigad), Bhorgirigad (Pune), Lonavala (Pune / Raigad), Dindori (Nashik), Surgana (Nashik), Taharabad (Nashik), Chinchpada (Nandurbar), Alibaug (Raigad), Ghera Manikgad (Raigad), Gumatara (Thane), Jawhar (Palghar), Asherigad (Palghar), Dhamani (Palghar) and Ekara (Chandrapur).

Further, the State Board for Wildlife declared 100.139 sq. km area in Koka Wildlife Sanctuary as Critical Wildlife Habitat and 255.79 sq. km area in Jaakwadi Bird Sanctuary as Critical Wildlife Habitat.

It was also decided that maintenance, silt removal, and dam repair works inside wildlife sanctuaries must be permanently integrated into the respective Management Plans within 3 months.

Wildlife officials are to be notified in advance instead of seeking fresh administrative approvals for every project.

Clearances were granted for essential civic and infrastructure projects (irrigation, drinking water, roads, bridges, power transmission, medical units, and underground optical fibre cables) across protected zones, eco-sensitive areas, and tiger corridors. Discussions were held on declaring Human-Wildlife Conflict as a Natural Disaster under the Disaster Management Act, establishing quiet zones in tiger reserves (core/buffer/ESZ), and formulating relocation policies for villages in buffer zones.

The CM instructed officials to evaluate staffing requirements, deputations, and vacant positions within one month to shift notified sanctuaries from Regional Forest/Forest Development Corporation Maharashtra control to the dedicated Wildlife Wing.