FAST DS 2026

The advisory notice is relevant because resident Indians (ROR) must declare all foreign bank accounts in Schedule FA of their ITR, even those with a zero balance. First, verify if his 3-year absence qualifies him as RNOR (which exempts him from this requirement). If he is ROR, he is protected from the ₹10 Lakh Black Money Act penalty because the balance is under ₹5 Lakhs, but he must still respond to the notice on the Compliance Portal and file an Updated Return (ITR-U) to disclose the account.

Dear  Sir , Thanks for the reply . Previous 3 years he has filed his income tax as a non resident and in 2026 27  ay , he filed as as a resident . Can he file a revised return incorporating the bank account details , in AY 2026 27    so that the compliance part is satisfied

Thanks 

Yes, the notice may be relevant because he still has a foreign bank account, even though the balance is zero. However, whether he needs to take action under FAST-DS depends on whether the account was required to be disclosed in his ITR. He should verify the notice and his Schedule FA before filing anything.

Further to my messages above , when I checked the AIS  statement - Foreign Assets -  section , I couldn't find  any information for CY 2022,2023  AND 2024  . Nothing found is the result . Now for 2025 CY , there is no information upto now . May be they will update the file with 2025 later . 

Thanks