Who can use FAST-DS and how much tax will apply?

Income Tax Department has notified Foreign Assets of Small Taxpayers-Disclosure Scheme, allowing eligible small taxpayers to declare certain undisclosed foreign assets and income from August 16 to December 31. Taxpayers must pay 30% tax plus an equal amount. The scheme covers specified assets up to ₹1 crore and some previously taxed or non-resident assets up to ₹5 crore.