The rule for each kind of asset
| Asset | Value as on 31 March 2026 |
|---|---|
| Listed shares | The higher of what you paid and the average of that day's highest and lowest price. No trading that day: the nearest earlier trading day. |
| Unlisted equity shares | The higher of what you paid and a formula based on the company's book value |
| Foreign bank account | The total of all deposits from the day it opened, not the balance. Money withdrawn and put back isn't counted twice. |
| Property abroad | The higher of cost and market value, backed by a valuer recognised in that country |
| Gold, jewellery, art | The higher of cost and market value |
| Share in a firm or LLP abroad | Its net assets, split first by capital, then by the profit-sharing ratio |
Foreign currency is converted at the RBI reference rate for 31 March 2026. Currencies without an RBI rate go through the US dollar first.
RSUs and ESPP shares
The FAQs don't mention RSUs by name. Once your RSUs vest, or you buy ESPP shares, you hold shares, so a listed employer's shares follow the listed-shares rule above.
Example: the bank account surprise
You opened a US account in 2019 and deposited $4,000, then $6,000, then $5,000. Today it holds $2,000. For FAST-DS its value is the $15,000 that went in, converted at the 31 March 2026 RBI rate, not the $2,000 left.
That matters for the limits, ₹1 crore for Category 1 and ₹5 crore for Category 2, and for Category 1, where you pay 60% of the value.
Small differences don't sink you
For assets other than bank accounts, a difference of up to 20% between your value and the department's doesn't by itself make the declaration invalid. Keep the valuation report and price data you used.
Common questions
On which date are assets valued for FAST-DS?
31 March 2026.
How is a foreign bank account valued?
As the total of all deposits from the day it opened to 31 March 2026, not the balance.
How are listed shares valued?
The higher of what you paid and the average of the highest and lowest price on 31 March 2026.
What exchange rate is used?
The RBI reference rate for 31 March 2026; other currencies go through the US dollar.
Two ways to sort this
Do it yourself
- List each foreign asset and when you got it.
- For shares, get the high and low price for 31 March 2026 and your cost.
- For bank accounts, add up every deposit since the account opened.
- Convert at the RBI reference rate for 31 March 2026, and keep your workings.
Let an expert do it
An expert can value your assets and pick the right category.
The first chat is freeHold shares from a foreign employer? See how they're taxed.
Open the RSU tax calculatorSources
- FAST-DS 2026: frequently asked questions (13 August 2026), Income Tax Department
- Foreign Assets of Small Taxpayers Disclosure Scheme, 2026: forms and payment, Income Tax Department e-filing portal
This guide explains the rules in general. For your own situation, .