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SCHEDULE FA FILING
Foreign investments in your portfolio? Follow this ITR checklist to avoid tax scrutinyResident and Ordinarily Resident (ROR) taxpayers with foreign assets or income must carefully disclose overseas investments, dividends and ...- ITR filing 2026: Foreign income and overseas assets? Avoid these 7 costly disclosure mistakesReturning Indians face new tax filing complexities. Foreign retirement accounts now necessitate the more detailed ITR-2, moving away from t...
- Have a US 401(k)? Indians must report withdrawals and maturity details in ITR schedules FSI and FAIndian taxpayers with US 401(k) accounts must now report withdrawals and maturity details in ITR schedules FSI and FA. Failure to disclose ...
- US Stocks: GIFT City or traditional broker? Before you start overseas investing, know which route saves you more in taxes, costs, and hassleIndians now have easier access to global markets through direct overseas investing or GIFT City. Direct investing offers wider choices and ...
- GIFT City investment: Here’s how resident Indians can invest in global stocks, ETFs, and mutual fundsIndian investors can now access global stocks, mutual funds, and bonds through GIFT City, India's first smart city and International Financ...
- ITR-2 online filing and excel utility for A.Y. 2026–27 are now enabled on the e-Filing ITR portalIndividuals and HUFs without business income but with complex income sources like salary, multiple house properties, or capital gains can f...
- RSU vs ESOP: Which is better for you as employee? Pros and cons explainedFrom vesting-day perquisite taxes to a 40% US estate levy that most Indian professionals never see coming, your employer’s stock is not the...
- FCNR FD interest rates: SBI vs PNB vs HDFC Bank vs ICICI Bank - which gives you best rates; eligibility and taxation on interest explainedFCNR interest remains exempt from tax as long as the depositor qualifies as an NRI or resident but RNOR under Section 10(15)(iv)(fa) of the...
- Failed to report US stocks gained via ESOP? Use this one-time Amnesty scheme; Know how it worksA one-time amnesty scheme, the FAST-DS, has been introduced to help Indian residents and NRIs resolve past non-compliance with reporting fo...
- Employee fined Rs 10 lakh over lack of ESOP disclosure in ITR; here's why ITAT Chennai cancelled itAn Indian employee faced a Rs 10 lakh penalty for not disclosing foreign ESOPs in his Income Tax Return. The Income Tax Appellate Tribunal,...
- US 401(k) and other overseas pension account holders: Forms ITR-1 and ITR-4 are no longer available under the new Indian I-T Act; they must now file ITR-2 or ITR-3New Income Tax Return forms have removed ITR-1 and ITR-4, requiring US 401(k) and overseas pension account holders to now use ITR-2 or ITR-...
- Investing in foreign stocks? Missing dividend reporting in your ITR could cost you 200% penalty; here’s how to fix it before it’s too lateIndian investors buying US stocks often overlook reporting dividend income, a common tax oversight. While foreign shares must be declared i...
- Filed ITR-1 or ITR-4 but now can’t find schedule foreign assets' information in revised form, here’s what you should doMany taxpayers face issues with missing foreign asset and income details in revised Income Tax Returns. If a taxpayer has any assets outsid...
- Have foreign income or income from equity? Know how to report this in ITR form for AY 2025-26Reporting foreign income in ITR: Individuals who have assets and income from overseas sources are mandated to utilize either ITR 2 or ITR 3...
- Report foreign income, assets in ITR by December 31, 2024 or Rs 10 lakh penalty can apply: Income Tax DeptReport Foreign Income in ITR: "Failure to disclose foreign income or asset in ITR can mean assessment proceedings being initiated under Bla...
- Have undisclosed foreign income or assets? Act before December 31 as govt gets more data from these new countriesIncome tax: The Income Tax Department has data from Germany and other countries about its residents having foreign properties and assets an...
- Reporting foreign income in income tax return: How to report foreign income, equity share in ITR formReporting foreign income in ITR: Individuals who have assets and income from overseas sources are mandated to utilize either ITR 2 or ITR 3...
- Not disclosing foreign shares, investments, assets in your ITR can lead to penalty of Rs 10 lakhFiling of schedule FA is mandatory if an individual is owner of any foreign asset like foreign stocks, foreign mutual funds, other foreign ...
- How to report your foreign income, share investment while filing ITR form?Many individuals having investments in foreign shares, or having bank account in foreign country are required to report their foreign asset...
- Reporting of foreign assets in income tax return: CBDT issues clarificationCBDT has clarified that only foreign assets acquired as per the relevant accounting period of the foreign country have to be reported while...
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