The Indian government has launched the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 (FAST-DS) to assist taxpayers in voluntarily disclosing unreported foreign assets, including Employee Stock Options (ESOPs) from foreign employers. This initiative follows a case in Chennai where an employee faced a ₹10 lakh penalty under the Black Money Act due to a reporting error, despite having paid the due capital gains tax. The Finance Minister acknowledged the challenges faced by employees and introduced this amnesty to mitigate penalties for inadvertent non-compliance. Under this scheme, individuals with undisclosed foreign assets valued under ₹1 crore can settle by paying 60% of the asset value, while those with assets acquired from overseas income during non-residency can pay only ₹1 lakh if the asset value does not exceed ₹5 crore. The scheme is particularly beneficial for employees with foreign ESOPs, non-resident Indians returning to India, and students with foreign bank accounts. However, it excludes assets linked to criminal activity or those already assessed under the Black Money Act. The initiative aims to ease the financial burden and avoid litigation for small taxpayers, encouraging compliance and accurate reporting of foreign assets.