If you hold cryptocurrency or other virtual digital assets (VDAs) on an overseas platform and have not disclosed them in India, the Foreign Assets of Small Taxpayers – Disclosure Scheme, 2026 (FAST-DS 2026), could become important for you.
The scheme creates a route for eligible taxpayers to disclose certain previously unreported foreign assets or income by paying a prescribed amount. But the treatment can differ sharply depending on how the asset was funded and whether the income used to acquire it was already taxed in India.
