Foreign asset disclosure: I-T dept reaches out to taxpayers with UAE properties as December 31 deadline looms
New Delhi, Oct. 27 -- The Centre is putting its pedal to the metal when it comes to overseas tax collection, Profit reported citing sources in the Finance Ministry.
The income-tax department has nudged select taxpayers who bought commercial or residential real estate in the United Arab Emirates (UAE) and may have not yet disclosed it, the report added.
The department reaching out to real estate investors comes as it gains more access to overseas financial information, as per the report.
The one-time voluntary disclosure window under the government's Foreign Assets of Small Taxpayers-Disclosure Scheme, 2026 (FAST-DS) ends on 31 December, this year.
The window was aimed at allowing eligible to disclose specified foreign assets or income...
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