Tax on Foreign Assets

[sarcasm99]

No..
You have to declare all foreign income / assets held duirng FY under FA schedule..
In your case you have to file ITR2 and fill FA schedule.
Contact CA.

Indmoney is not showing any FA schedule for FY23 latest option

 

[SSV]

But in this message you have written CY?

Yes it depends on the foreign country that the asset being held..

For complete details see here..
Please read this thoroughly and ask questions after you read the complete article

Schedule FA in ITR: How to Declare Foreign Assets in India - Tax2win

Learn how to fill Schedule FA in ITR-2 for foreign assets disclosure. Avoid ₹10 lakh penalty. Step-by-step guide to file and report overseas holdings correctly.

tax2win.in

 

[SSV]

Indmoney is not showing any FA schedule for FY23 latest option

I don’t know about Indmomey

 

[sarcasm99]

Yes it depends on the foreign country that the asset being held..

For complete details see here..
Please read this thoroughly and ask questions after you read the complete article

Schedule FA in ITR: How to Declare Foreign Assets in India - Tax2win

Learn how to fill Schedule FA in ITR-2 for foreign assets disclosure. Avoid ₹10 lakh penalty. Step-by-step guide to file and report overseas holdings correctly.

tax2win.in

Yeah so in my case it's US stocks and it follows CY right ? So why do I need to show the stocks holding from February 2024 ?

 

[SSV]

Yeah so in my case it's US stocks and it follows CY right ? So why do I need to show the stocks holding from February 2024 ?

Ok, if it is the USA, it follows CY. You have to show them next year even if have sold them out

 

[SSV]

Yeah so in my case it's US stocks and it follows CY right ? So why do I need to show the stocks holding from February 2024 ?

See the thing is you are Indian resident and holding stocks with Indian broker right ?
Or are you holding any foreign accounts?

 

[sarcasm99]

See the thing is you are Indian resident and holding stocks with Indian broker right ?
Or are you holding any foreign accounts?

The app I am using is Indian ... But there is a foreign broker involved as well as per my knowledge ... And yeah I am Indian resident

 

[sarcasm99]

Ok, if it is the USA, it follows CY. You have to show them next year even if have sold them out

Cool thanks for the help

 

[SSV]

Cool thanks for the help

No problem, if you have any doubts we will talk after a couple of weeks , right now I am busy filing my itr