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Am I expected to report my holdings or gains in India an annual basis even if I don’t have a tax liability? If yes under what section and what forms do I need to report the same in India?

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  • Am I expected to report my holdings or gains in India an annual basis even if I don’t have a tax liability? If yes under what section and what forms do I need to report the same in India?
Published on - August 24, 2020

Where a person is a ROR he/she is required to file his/her income tax return if the person has any kind of foreign assets.
The reporting in this regard would be as follows

1. Details of foreign assets and income from any source outside India –Schedule FA of the relevant Income Tax Return (ITR)

2. Details of Income from outside India (only in the case of resident and ordinarily resident) – Schedule FSI of the relevant ITR


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