Question ID : 44756

Clarification on Reporting Advance Payments for Under-Construction Foreign Property in Schedule FA o

Considering the property is under construction and the title has not yet been registered in the taxpayer's name, should the advance payment be disclosed under the "Details of Immovable Property" section of Schedule FA?

Under Schedule FA (Foreign Assets) of the Income-tax Return, advance payments made for immovable property should typically be disclosed in the "Details of Immovable Property" section, even if the property is under construction and the title has not yet been registered in the taxpayer's name.