{"id":9826,"date":"2025-12-28T06:45:14","date_gmt":"2025-12-28T06:45:14","guid":{"rendered":"https:\/\/www.caindelhiindia.com\/blog\/?p=9826"},"modified":"2025-12-28T06:45:14","modified_gmt":"2025-12-28T06:45:14","slug":"which-foreign-asset-are-to-be-declared-in-schedule-fa-of-itr","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/which-foreign-asset-are-to-be-declared-in-schedule-fa-of-itr\/","title":{"rendered":"Which Foreign Asset are to be Declared in Schedule FA of ITR"},"content":{"rendered":"<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-9823\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2015\/09\/FA-detals-of-assets.-.jpg\" alt=\"Foreign Assets are to be Declared in Schedule FA\" width=\"1222\" height=\"844\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2015\/09\/FA-detals-of-assets.-.jpg 1222w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2015\/09\/FA-detals-of-assets.--300x207.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2015\/09\/FA-detals-of-assets.--1024x707.jpg 1024w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2015\/09\/FA-detals-of-assets.--768x530.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2015\/09\/FA-detals-of-assets.--800x553.jpg 800w\" sizes=\"(max-width: 1222px) 100vw, 1222px\" \/><\/h2>\n<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-69da6d06b0ff4\" 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-69da6d06b0ff4\"  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\/which-foreign-asset-are-to-be-declared-in-schedule-fa-of-itr\/#Which_Foreign_Assets_are_to_be_Declared_in_Schedule_FA_of_ITR\" title=\"Which Foreign Assets are to be Declared in Schedule FA of ITR\">Which Foreign Assets are to be Declared in Schedule FA of ITR<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caindelhiindia.com\/blog\/which-foreign-asset-are-to-be-declared-in-schedule-fa-of-itr\/#Types_of_Asset_Income_Reporting_Details\" title=\"Types of Asset \/ Income &amp; Reporting Details\">Types of Asset \/ Income &amp; Reporting Details<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caindelhiindia.com\/blog\/which-foreign-asset-are-to-be-declared-in-schedule-fa-of-itr\/#Foreign_ESOPsRSUs_vested_shares\" title=\"Foreign ESOPs\/RSUs (vested shares)\">Foreign ESOPs\/RSUs (vested shares)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caindelhiindia.com\/blog\/which-foreign-asset-are-to-be-declared-in-schedule-fa-of-itr\/#RSUs%E2%80%94shares_sold_by_employer_under_sell-to-cover_for_perquisite_tax\" title=\"RSUs\u2014shares sold by employer under sell-to-cover (for perquisite tax)\">RSUs\u2014shares sold by employer under sell-to-cover (for perquisite tax)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.caindelhiindia.com\/blog\/which-foreign-asset-are-to-be-declared-in-schedule-fa-of-itr\/#Dividend_from_foreign_shares\" title=\"Dividend from foreign shares\">Dividend from foreign shares<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.caindelhiindia.com\/blog\/which-foreign-asset-are-to-be-declared-in-schedule-fa-of-itr\/#Foreign_sharesbrokerage_account_including_dividend_balance_lying_abroad\" title=\"Foreign shares\/brokerage account (including dividend balance lying abroad)\">Foreign shares\/brokerage account (including dividend balance lying abroad)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.caindelhiindia.com\/blog\/which-foreign-asset-are-to-be-declared-in-schedule-fa-of-itr\/#Foreign_bank_account\" title=\"Foreign bank account\">Foreign bank account<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.caindelhiindia.com\/blog\/which-foreign-asset-are-to-be-declared-in-schedule-fa-of-itr\/#Foreign_insurance_policy_having_surrender_value\" title=\"Foreign insurance policy having surrender value\">Foreign insurance policy having surrender value<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.caindelhiindia.com\/blog\/which-foreign-asset-are-to-be-declared-in-schedule-fa-of-itr\/#Foreign_immovable_property_landbuilding\" title=\"Foreign immovable property (land\/building)\">Foreign immovable property (land\/building)<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Which_Foreign_Assets_are_to_be_Declared_in_Schedule_FA_of_ITR\"><\/span><span style=\"color: #000080;\"><strong>Which Foreign Assets are to be Declared in Schedule FA of ITR<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>It explains the reporting requirements for resident &amp; ordinarily resident taxpayers who hold foreign assets or income. This is general guidance. Reporting requirements may vary based on residential status and specific facts of the case. Professional advice is recommended before filing the return. Here&#8217;s a detailed breakdown:<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Types_of_Asset_Income_Reporting_Details\"><\/span><span style=\"color: #000080;\"><strong>Types of Asset \/ Income &amp; Reporting Details<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ol>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Foreign_ESOPsRSUs_vested_shares\"><\/span><span style=\"color: #000080;\"><strong>Foreign ESOPs\/RSUs (vested shares)<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li>When to Report: Every year from year of vesting till the year of sale<\/li>\n<li>Where to Report: Schedule FA<\/li>\n<\/ul>\n<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"RSUs%E2%80%94shares_sold_by_employer_under_sell-to-cover_for_perquisite_tax\"><\/span><span style=\"color: #000080;\"><strong>RSUs\u2014shares sold by employer under sell-to-cover (for perquisite tax)<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li>When to Report: Year of transfer (sale)<\/li>\n<li>Where to Report: Schedule CG (capital gains, if any) &amp; Schedule FA for balance shares<\/li>\n<\/ul>\n<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Dividend_from_foreign_shares\"><\/span><span style=\"color: #000080;\"><strong>Dividend from foreign shares<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li>When to Report: Year of credit<\/li>\n<li>Where to Report: Income from Other Sources<\/li>\n<\/ul>\n<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Foreign_sharesbrokerage_account_including_dividend_balance_lying_abroad\"><\/span><span style=\"color: #000080;\"><strong>Foreign shares\/brokerage account (including dividend balance lying abroad)<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li>When to Report: Every year till shares are sold \/ account is closed or funds repatriated<\/li>\n<li>Where to Report: Schedule FA<\/li>\n<\/ul>\n<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Foreign_bank_account\"><\/span><span style=\"color: #000080;\"><strong>Foreign bank account<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li>When to Report: Every year till the account is closed<\/li>\n<li>Where to Report: Schedule FA<\/li>\n<\/ul>\n<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Foreign_insurance_policy_having_surrender_value\"><\/span><span style=\"color: #000080;\"><strong>Foreign insurance policy having surrender value<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li>When to Report: Every year till maturity\/surrender<\/li>\n<li>Where to Report: Schedule FA<\/li>\n<\/ul>\n<\/li>\n<li>\n<h4><span class=\"ez-toc-section\" id=\"Foreign_immovable_property_landbuilding\"><\/span><span style=\"color: #000080;\"><strong>Foreign immovable property (land\/building)<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li>When to Report: Every year till sold<\/li>\n<li>Where to Report: Schedule FA<\/li>\n<\/ul>\n<\/li>\n<li><span style=\"color: #000080;\"><strong>We should also keep in mind the following important practical points in this reference :\u00a0<\/strong><\/span><\/li>\n<\/ol>\n<ul>\n<li>Disclosure is required even if income is NIL.<\/li>\n<li>Low balance or inactive foreign accounts are NOT exempt.<\/li>\n<li>Schedule FA reporting is independent of taxability.<\/li>\n<li>Non-reporting may attract a penalty under the Black Money Act.<\/li>\n<\/ul>\n<p><span style=\"color: #000080;\"><strong>9.\u00a0 Commonly Missed Foreign Assets (Also Reportable in Schedule FA)<\/strong><\/span><\/p>\n<ul>\n<li>Foreign mutual funds \/ ETFs<\/li>\n<li>Foreign-retirement accounts (401(k), IRA, Superannuation, etc.)<\/li>\n<li>Beneficial interest in foreign entities or trusts<\/li>\n<li>Foreign custodial or investment accounts<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Which Foreign Assets are to be Declared in Schedule FA of ITR It explains the reporting requirements for resident &amp; ordinarily resident taxpayers who hold foreign assets or income. This is general guidance. Reporting requirements may vary based on residential status and specific facts of the case. Professional advice is recommended before filing the return. &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":[1035],"tags":[1257],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/9826"}],"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=9826"}],"version-history":[{"count":2,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/9826\/revisions"}],"predecessor-version":[{"id":9828,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/9826\/revisions\/9828"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=9826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=9826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=9826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}