Returned home after studying abroad? Union Budget 2026 introduces a one-time, six-month foreign asset disclosure scheme that lets you voluntarily report undisclosed overseas income or foreign bank accounts (within ₹1 crore/₹5 crore limits) without penalties or prosecution. For Indian students with foreign internships, stipends, overseas pay, ESOPs or global accounts, this is a rare compliance reset before tax residency reignites scrutiny.