Income Tax Department in New Delhi has urged 1,100 UAE property investors to disclose foreign assets, offering a one‑time window to regularise untaxed holdings.
The move comes after the department logged cases of undisclosed overseas income and assets.
Taxpayers hold both residential and commercial properties in the UAE, prompting the department to focus on this sector.
Under the new directive, each taxpayer must file a declaration of foreign income and assets within the allotted period.
A 45‑year‑old engineer from Lucknow, who owns a rental unit in Dubai, said he has been given the deadline to submit his documents.
The filing window closes at the end of the fiscal year, after which the department will assess compliance and impose penalties for omissions.