Invested in foreign shares? Know how to file ITR with ‘relevant accounting period’ for reporting foreign assets in Schedule FA?

Indian residents holding foreign assets must report them in Schedule FA. This reporting uses the calendar year ending December 31, 2025. Assets held even for one day during this period require declaration. This applies irrespective of the foreign country's fiscal year. Failure to report can lead to penalties for non-compliance.

from Tax-Wealth-Economic Times https://ift.tt/1YOsL9Z