Under the leadership of Mr. Shailendra Batra, Senior Team Leader, Osh Legal provides specialised advisory and assistance under the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 (FAST-DS 2026). The Scheme provides eligible taxpayers a time-bound opportunity to disclose specified undisclosed foreign assets and foreign income, subject to prescribed tax or fee and statutory conditions.
Our Practice Areas
1. Eligibility & Applicability Assessment
Evaluating taxpayer status, nature and source of foreign assets/income and applicability of the Scheme.
2. Asset & Income Review
Identification, verification and valuation of undisclosed or previously unreported foreign assets and income.
3. Declaration & Documentation
Assistance with preparation and filing of Form 1, supporting documentation and disclosures.
4. Tax/Fee Computation & Compliance
Advising on the applicable tax or fee, payment process and subsequent statutory compliances.
5. Regularisation & Immunity
Assistance in completing the prescribed process for obtaining the benefit of immunity from further tax, penalty and prosecution under the Black Money Act, subject to the Scheme’s conditions.
Our Approach
Our approach is confidential, meticulous and compliance-focused. We undertake a detailed review of the taxpayer’s foreign assets, income, source of funds and historical reporting before determining the appropriate disclosure strategy, with emphasis on accurate disclosure, documentation and timely compliance.