I.Tax Dept holds awareness meeting on ‘Foreign Assets Scheme 2026’
Ferozepur, November 5, 2026: To educate taxpayers and tax professionals about provisions for disclosing overseas assets and income, the Income Tax Department, Ferozepur, organised an outreach-cum-awareness meeting, on the newly announced 'Foreign Assets of Small Taxpayers Scheme, 2026'.
Members of Bar Associations and Chartered Accountants (CA) Associations from Ferozepur, Guruharsahai, Zira and Makhu, along with tax consultants, participated in the meeting in large numbers.
Income Tax Inspector Rattan Yadav welcomed the representatives of the Bar and CA Associations. During the session, Sukhdeep Kumar, Income Tax Officer, explained the key provisions of the scheme and highlighted how small taxpayers could use it to voluntarily disclose overseas assets or bank accounts that might have remained undisclosed inadvertently or due to oversight.
He explained that timely disclosure under the scheme could help eligible taxpayers avoid potential penalties and legal complications arising from non-disclosure of foreign assets.
Representatives of the Bar and CA Associations appreciated the department's initiative and sought clarifications on various aspects of the scheme. The department urged tax consultants to educate their clients and encourage eligible taxpayers to avail themselves of the scheme within the stipulated period.
The meeting was also attended by Suneet Garg, Income Tax Inspector; Sarvmitra, Office Superintendent; Sushil Kumar, Tax Assistant; Harsimranjit Kaur, Tax Assistant, and other departmental officials.