Income Tax Department Urges Taxpayers With UAE, Overseas Properties to Disclose Foreign Assets Under FAST-DS
The Income-Tax Department is stepping up efforts to bring selected taxpayers into compliance by encouraging disclosure of foreign assets, including properties held in the UAE and other jurisdictions, under the Foreign Assets of Small Taxpayers-Disclosure Scheme. About 1,100 taxpayers have already applied, with the window open until December 31, as the department broadens access to foreign asset data received from overseas tax authorities.
