The Economic Times

Foreign income disclosed in ITR-U: Why it could still trigger Black Money Act - FAST-DS 2026 Paradox

FAST-DS 2026 raises an important question for taxpayers who have voluntarily disclosed foreign income through a valid ITR-U. Can such income still remain undisclosed under the Black Money Act even though it may no longer qualify as undisclosed foreign income under FAST-DS 2026? This article examines the apparent statutory disconnect and the need for clarification from CBDT.