{"id":10545,"date":"2026-07-18T09:01:00","date_gmt":"2026-07-18T09:01:00","guid":{"rendered":"https:\/\/www.caindelhiindia.com\/blog\/?p=10545"},"modified":"2026-07-18T09:01:00","modified_gmt":"2026-07-18T09:01:00","slug":"schedule-fa-for-ay-2027-28-filing-guide-for-fa-disclosure-in-itr","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/schedule-fa-for-ay-2027-28-filing-guide-for-fa-disclosure-in-itr\/","title":{"rendered":"Schedule FA for AY 2027-28: Filing Guide for FA Disclosure in ITR"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a5b75c288ee8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a5b75c288ee8\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caindelhiindia.com\/blog\/schedule-fa-for-ay-2027-28-filing-guide-for-fa-disclosure-in-itr\/#Schedule_FA_Foreign_Assets_for_AY_2027-28_Complete_Filing_Guide_for_Foreign_Assets_Disclosure_in_ITR\" title=\"Schedule FA (Foreign Assets) for AY 2027-28: Complete Filing Guide for Foreign Assets Disclosure in ITR\">Schedule FA (Foreign Assets) for AY 2027-28: Complete Filing Guide for Foreign Assets Disclosure in ITR<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caindelhiindia.com\/blog\/schedule-fa-for-ay-2027-28-filing-guide-for-fa-disclosure-in-itr\/#What_is_Schedule_FA_Foreign_Assets\" title=\"What is Schedule FA (Foreign Assets)?\">What is Schedule FA (Foreign Assets)?<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caindelhiindia.com\/blog\/schedule-fa-for-ay-2027-28-filing-guide-for-fa-disclosure-in-itr\/#Schedule_FA_Foreign_Assets_Filing_Checklist\" title=\"Schedule FA (Foreign Assets) Filing Checklist\">Schedule FA (Foreign Assets) Filing Checklist<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caindelhiindia.com\/blog\/schedule-fa-for-ay-2027-28-filing-guide-for-fa-disclosure-in-itr\/#Table_A3_%E2%80%93_Foreign_Equity_and_Debt_Interests\" title=\"Table A3 \u2013 Foreign Equity and Debt Interests\">Table A3 \u2013 Foreign Equity and Debt Interests<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.caindelhiindia.com\/blog\/schedule-fa-for-ay-2027-28-filing-guide-for-fa-disclosure-in-itr\/#Table_A2_%E2%80%93_Foreign_Custodial_Accounts\" title=\"Table A2 \u2013 Foreign Custodial Accounts\">Table A2 \u2013 Foreign Custodial Accounts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.caindelhiindia.com\/blog\/schedule-fa-for-ay-2027-28-filing-guide-for-fa-disclosure-in-itr\/#Important_Compliance_Takeaways\" title=\"Important Compliance Takeaways\">Important Compliance Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.caindelhiindia.com\/blog\/schedule-fa-for-ay-2027-28-filing-guide-for-fa-disclosure-in-itr\/#While_filing_AY_2027-28_returns_ask_clients_specifically_about_the_following\" title=\"While filing AY 2027-28 returns, ask clients specifically about the following: \">While filing AY 2027-28 returns, ask clients specifically about the following: <\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Schedule_FA_Foreign_Assets_for_AY_2027-28_Complete_Filing_Guide_for_Foreign_Assets_Disclosure_in_ITR\"><\/span><span style=\"color: #000080;\">Schedule FA (Foreign Assets) for AY 2027-28: Complete Filing Guide for Foreign Assets Disclosure in ITR<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div>\n<h2><span class=\"ez-toc-section\" id=\"What_is_Schedule_FA_Foreign_Assets\"><\/span><span style=\"color: #000080;\"><strong>What is Schedule FA (Foreign Assets)?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Schedule FA (Foreign Assets) is a mandatory disclosure schedule in the ITR for residents who hold foreign assets, foreign bank accounts, overseas investments, or earn foreign income.<\/li>\n<li>Foreign assets are reported on a calendar-year basis. And For AY 2027-28, disclosures relate to assets held during Calendar Year 2025 (1 January 2025 to 31 December 2025).<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Schedule_FA_Foreign_Assets_Filing_Checklist\"><\/span><span style=\"color: #000080;\"><strong>Schedule FA (Foreign Assets) Filing Checklist<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Following lists four important compliance requirements for Schedule FA (Foreign Assets) discloser :<\/p>\n<ol>\n<li>Disclose all foreign assets: Report foreign assets held at any time during Calendar Year 2025. Examples: Foreign shares, Overseas bank accounts, Foreign mutual funds, Foreign Employee Stock Ownership Plan or Employee Stock Option Plan, Overseas properties<\/li>\n<li>Convert values using SBI TT Buying Rate: All foreign currency values must be converted into INR using the State Bank of India Telegraphic Transfer (TT) Buying Rate applicable on the relevant date.<\/li>\n<li>Report acquisition separately : Acquisition details should be reported and not merely the year-end balance.<\/li>\n<li>Report income separately: Income such as Dividends, Interest and Capital gains must be declared both In Schedule FA (Foreign Assets), and Under the relevant income heads in the Income Tax Return. Following Example uses a hypothetical U.S. brokerage account containing three stocks:<\/li>\n<\/ol>\n<table style=\"height: 313px;\" width=\"1099\">\n<tbody>\n<tr>\n<td>Asset<\/td>\n<td>Purchase Cost<\/td>\n<td>Highest Value in 2025<\/td>\n<td>Balance on 31 Dec 2025<\/td>\n<td>Income<\/td>\n<\/tr>\n<tr>\n<td>XYZ Inc.<\/td>\n<td>$1,000<\/td>\n<td>$1,300<\/td>\n<td>$1,150<\/td>\n<td>Dividend $20<\/td>\n<\/tr>\n<tr>\n<td>ABC ETF<\/td>\n<td>$3,000<\/td>\n<td>$3,350<\/td>\n<td>$3,300<\/td>\n<td>Nil<\/td>\n<\/tr>\n<tr>\n<td>MNC Inc. (sold)<\/td>\n<td>$3,000<\/td>\n<td>$5,500<\/td>\n<td>Sold<\/td>\n<td>Profit $2,300<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The example demonstrates that even if an asset is sold during the year, its details and sale proceeds must still be disclosed in Schedule FA (Foreign Assets).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Table_A3_%E2%80%93_Foreign_Equity_and_Debt_Interests\"><\/span><span style=\"color: #000080;\"><strong>Table A3 \u2013 Foreign Equity and Debt Interests<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Above table will have to show how foreign shares are reported. Required disclosures include:<\/p>\n<p>For each foreign security Country, Name of entity, Date of acquisition, Initial value, Peak value during the year, Closing value, Dividend\/interest income and Gross sale proceeds. Example entries shown:<\/p>\n<p><strong>XYZ Inc.<\/strong><\/p>\n<ul>\n<li>Country: US<\/li>\n<li>Date acquired: 15 March 2025<\/li>\n<li>Initial value: INR 86,550<\/li>\n<li>Peak value: INR 1,15,700<\/li>\n<li>Closing value: INR 1,02,891<\/li>\n<li>Dividend: INR 1,759<\/li>\n<\/ul>\n<p><strong>ABC ETF<\/strong><\/p>\n<ul>\n<li>Country: US<\/li>\n<li>Date acquired: 1 July 2025<\/li>\n<li>Initial value: INR 2,55,600<\/li>\n<li>Peak value: INR 2,95,805<\/li>\n<li>Closing value: INR 2,95,251<\/li>\n<\/ul>\n<p><strong>MNC Inc. (Sold)<\/strong><\/p>\n<ul>\n<li>Country: US<\/li>\n<li>Date acquired: 3 September 2023<\/li>\n<li>Initial value: INR 2,46,840<\/li>\n<li>Peak value: INR 4,67,500<\/li>\n<li>Closing value: Nil<\/li>\n<li>Sale proceeds: INR 4,76,298<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Table_A2_%E2%80%93_Foreign_Custodial_Accounts\"><\/span><span style=\"color: #000080;\"><strong>Table A2 \u2013 Foreign Custodial Accounts<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Following explains reporting of overseas brokerage\/custodial accounts. Details required Account number, opening balance, Peak balance during the year, Closing balance, Gross interest credited and Dividend-sale proceeds credited. Example shown:<\/p>\n<table style=\"height: 343px;\" width=\"1001\">\n<tbody>\n<tr>\n<td>Particulars<\/td>\n<td>Amount<\/td>\n<\/tr>\n<tr>\n<td>Opening Balance<\/td>\n<td>INR 79,005<\/td>\n<\/tr>\n<tr>\n<td>Peak Balance<\/td>\n<td>INR 3,89,142<\/td>\n<\/tr>\n<tr>\n<td>Closing Balance<\/td>\n<td>INR 3,89,142<\/td>\n<\/tr>\n<tr>\n<td>Gross Interest<\/td>\n<td>INR 4,69,687<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Specifically notes that dividend and sale proceeds credited to the account should also be disclosed.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Important_Compliance_Takeaways\"><\/span><span style=\"color: #000080;\"><strong>Important Compliance Takeaways<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Schedule FA (Foreign Assets) is applicable only to specified resident taxpayers.<\/li>\n<li>Reporting is based on calendar year, not the financial year.<\/li>\n<li>Foreign shares, ETFs, brokerage accounts and other overseas assets must be disclosed.<\/li>\n<li>Sale proceeds, dividends and interest must be separately reported.<\/li>\n<li>SBI TT Buying Rate should be used for conversion into INR.<\/li>\n<li>Non-disclosure or incorrect disclosure of foreign assets can attract severe consequences under the Income-tax Act and, where applicable, the Black Money (Undisclosed Foreign Income and Assets) Act.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"While_filing_AY_2027-28_returns_ask_clients_specifically_about_the_following\"><\/span><span style=\"color: #000080;\"><strong>While filing AY 2027-28 returns, ask clients specifically about the following: <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Foreign brokerage accounts (Interactive Brokers, Charles Schwab, Fidelity, etc.). US stocks and ETFs, Foreign ESOPs\/RSUs, Overseas bank accounts, Foreign dividends and interest and Assets sold during Calendar Year 2025<\/li>\n<li>Many taxpayers report foreign income but inadvertently miss Schedule FA (Foreign Assets) disclosures, which can trigger notices despite proper tax payment.<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Schedule FA (Foreign Assets) for AY 2027-28: Complete Filing Guide for Foreign Assets Disclosure in ITR What is Schedule FA (Foreign Assets)? Schedule FA (Foreign Assets) is a mandatory disclosure schedule in the ITR for residents who hold foreign assets, foreign bank accounts, overseas investments, or earn foreign income. Foreign assets are reported on a &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/10545"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=10545"}],"version-history":[{"count":2,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/10545\/revisions"}],"predecessor-version":[{"id":10548,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/10545\/revisions\/10548"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=10545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=10545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=10545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}