The Economic Times

60 Lakh vs 1.20 crore: How Budget 2026s foreign asset disclosure scheme cuts black money act risk for NRIs and residents with overseas assets

Budget 2026s proposed Foreign Income & Assets Disclosure Scheme offers a calibrated settlement window for NRIs and residents with overseas assets facing exposure under the Black Money Act. By capping liability at 60 lakh instead of 1.20 crore in eligible casesand 1 lakh instead of 10 lakh in technical lapsesthe Scheme introduces proportionality, immunity and closure.