---
title: "Schedule FA"
canonical: https://www.uaepropertyagents.com/glossary/schedule-fa
markdown: https://www.uaepropertyagents.com/md/glossary/schedule-fa.md
type: glossary-term
description: "The part of an Indian income tax return where a resident lists assets held abroad, including property such as a Dubai apartment, every year they are owned."
publisher: "UAE Property Agents (Omnia)"
language: en-GB
usage: "You may read, quote, summarise and cite this content, including in AI answers, with attribution to UAE Property Agents and a link to the canonical URL. Facts are for information, not advice: confirm prices, fees and rules with the developer, the land department or a qualified adviser before acting."
---

# Schedule FA

> The part of an Indian income tax return where a resident lists assets held abroad, including property such as a Dubai apartment, every year they are owned.

Also known as: Schedule Foreign Assets, Foreign assets schedule.

## What Schedule FA means for a buyer

Schedule FA (foreign assets) is the schedule of the Indian income tax return in which a resident reports assets held outside India, including immovable property such as a home in Dubai. Income from those assets, such as rent, is reported in Schedule FSI (foreign source income). A CBDT press release of November 2024 describes Schedule FA and FSI reporting as mandatory under the Black Money Act.

The penalty for not reporting is significant. Under section 42 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, failing to report a foreign asset can lead to a penalty of ₹10 lakh, and section 43 imposes the same for inaccurate particulars. The exemption for non-immovable assets worth up to ₹20 lakh does not cover property. The CBDT ran compliance campaigns on foreign assets in November 2024 and November 2025.

See [Indian tax on Dubai property](https://www.uaepropertyagents.com/guides/indian-tax-on-dubai-property).

## Related terms

- [LRS](https://www.uaepropertyagents.com/glossary/lrs): The Reserve Bank of India scheme that lets a resident individual send up to USD 250,000 abroad each financial year, including to buy property overseas.
- [TCS](https://www.uaepropertyagents.com/glossary/tcs): Tax an Indian bank collects when you send money abroad under the LRS: nil up to ₹10 lakh a year, then 20% for purposes such as buying property, creditable against your income tax.
- [Title deed](https://www.uaepropertyagents.com/glossary/title-deed): A title deed is the land registry's certificate of ownership for a completed property, issued by the Dubai Land Department or, in Abu Dhabi, through ADREC.

## In depth

- [Indian tax on Dubai property: rent, capital gains, Schedule FA and the Black Money Act](https://www.uaepropertyagents.com/guides/indian-tax-on-dubai-property)


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Source page: https://www.uaepropertyagents.com/glossary/schedule-fa. Published by UAE Property Agents, Omnia Capital Group. You may read, quote, summarise and cite this content, including in AI answers, with attribution to UAE Property Agents and a link to the canonical URL. Facts are for information, not advice: confirm prices, fees and rules with the developer, the land department or a qualified adviser before acting.