Declaration of Shares held of Foreign Company
This query is : Resolved
20 December 2024
Hello Members,
Client holds ESOP shares, which are not listed in India.
The disclosure of the same was done as part of the AL (Assets and Liablities ) and in Other info also as part of the Unlisted Equity Shares. Further whenever part of the ESOP were sold the same have been offered to tax under Capital Gain as unlisted equity shares.
The shares are acquired as part of ESOP and the same are disclosed also in ITR, overall there is no concealment of Shares or money laundering activity under the Black Money Act as such.
But since the shares are of a foreign company, do we necessarily need to disclose this under the FA schedule and file a revised return?
Regards
Client holds ESOP shares, which are not listed in India.
The disclosure of the same was done as part of the AL (Assets and Liablities ) and in Other info also as part of the Unlisted Equity Shares. Further whenever part of the ESOP were sold the same have been offered to tax under Capital Gain as unlisted equity shares.
The shares are acquired as part of ESOP and the same are disclosed also in ITR, overall there is no concealment of Shares or money laundering activity under the Black Money Act as such.
But since the shares are of a foreign company, do we necessarily need to disclose this under the FA schedule and file a revised return?
Regards
Dhirajlal Rambhia
(Expert)
20 December 2024
Yes, that is the correct way of disclosure.
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