Tag: Black Money Act

Income Tax Notifications & Order IT

FAST-DS 2026 Valuation Rules: How to Value Each Foreign Asset for Form 1 (Bank Accounts, Shares and Property)

CA Adityavikram Banka

FAST-DS 2026 valuation guide: how to value each foreign asset for Form 1 under Rule 3, the lifetime-deposit bank account rule, the unquoted equity formula, indexed-cost fallback, and the 20 percent variance safe harbour.

Income Tax Notifications & Order IT

Foreign Assets Now Appear in Your AIS: How to Reconcile AEOI Data and Schedule FA Before Filing AY 2026-27 (CBDT Order Dated 8 July 2026)

CA Adityavikram Banka

CBDT’s 8 July 2026 order shows foreign-asset AEOI data in your AIS. Reconcile Schedule FA before filing AY 2026-27 to avoid the Rs 10 lakh Black Money Act penalty.