Resident taxpayers must report foreign assets and income under Schedule FA, even if tax isn’t affected. Non-disclosure can attract penalties under the Black Money Act, making accurate reporting ...

Indian ROR taxpayers must disclose all foreign assets and interests in Schedule FA, even if non-taxable abroad. Non-compliance can trigger strict penalties under the Black Money Act, though a ₹20 lakh ...

Under the watchful eye of the Indian Income Tax Act 1961, Indian residents who have been international players in the fiscal year have a distinct obligation. Each and every foreign bank account, ...

Indian investors buying US stocks from international brokerage platforms cannot opt for Form ITR-1 or ITR-4. Indians are increasingly showing interest in purchasing overseas property and investing in ...

CA Himank Singla highlighted that foreign equity holdings such as ESOPs and RSUs must be disclosed in Schedule FA every year, starting from the year they vest until they are sold. He added that when ...