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
20 December 2024
Yes, that is the correct way of disclosure.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- Price inclusive or exclusive of GST while made entry in P& L Account
- Minimum tax payable to file Updated return
- Applicability of GST on Salary Reimbursement Component
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Dep. as per companies act
- Tax rate change regarding
- Salary from Qatar in Dollars in India
- GST Intimation due to Government took possession of Business Premises under PPE Act
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
ARTICLESHIP
07 September 2026
CA Articles
Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
View Details
ARTICLESHIP
21 September 2026
CA Article Assistant
KK & Company Chartered Accountant
Pune
CA Inter
View Details
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER
Anupam Parashar & Co.
Ghaziabad
CA Final
View Details
22 September 2026
Account Assistant
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
View Details
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared
Getmyca Consultant Pvt Ltd
New Delhi
CA Inter
View Details
CCI
Pro
CAclubindia
