Jan 24 · 4 min read · Reporting foreign assets in ITR-2 using Schedule FA is crucial for resident Indians and NRIs. The FY 2025–26 update emphasizes correct disclosure of all foreign assets, including: Bank accounts Financial instruments Immovable property Other forei...
Join discussion
Jan 24 · 4 min read · For taxpayers who hold foreign assets or bank accounts, reporting in the Income Tax Return (ITR-2) is mandatory under Schedule FA. The FY 2025–26 update retains the reporting requirement, emphasizing full disclosure of: Bank accounts abroad Financi...
Join discussion
Dec 24, 2025 · 4 min read · In 2025, the Income Tax Department of India has intensified its focus on foreign asset and foreign income disclosures, especially for employees of multinational companies (MNCs). Thousands of salaried individuals are receiving emails, SMS alerts, and...
Join discussion