Tax department nudges Indians with undeclared UAE property to come clean

The Income-Tax Department has nudged select taxpayers who own undeclared residential or commercial property in the UAE to disclose it. The push is part of the one-time Foreign Assets of Small Taxpayers Disclosure Scheme, 2026, launched on August 16. Valid declarations earn immunity from further assessment, penalties and prosecution under the Black Money Act. About 1,100 taxpayers have applied so far.