Tag
schedule fa
3 posts tagged schedule fa
- US Investing·
Schedule FA for AY 2026-27: step-by-step disclosure guide for Indian residents
How resident Indians disclose foreign equity, brokerage accounts and dividends in Schedule FA of ITR-2/ITR-3 for AY 2026-27 — sub-sections, calendar year trap and Black Money Act penalties.
- US Investing·
What is Schedule FA? Complete 2026 guide to foreign-asset disclosure
Schedule FA is the annual foreign-asset disclosure in ITR-2 and ITR-3 that every Resident and Ordinarily Resident Indian must file, covering overseas accounts, shares and income on a calendar-year basis.
- US Investing·
What is the Black Money Act? Undisclosed foreign assets — complete 2026 guide
The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 levies 30 percent tax plus a 90 percent penalty on undisclosed foreign income or assets, with Rs 10 lakh per-asset penalties and prosecution up to seven years.