Foreign Asset FA schedule of Itr2
This query is : Resolved
Quick Summary
20 May 2022
1: Please let me know whether Vested RSU till previous year are required to file in returns? And whether separate entries for same stock with different vested dates are to be entered.
2: Whether RSU vested upto Dec21 and sold are to be disclosed or from Jan-22 to March22 sold RSU are also required to disclose?
3: The capital gains of sold RSU from Jan-22 to March-22 are to be considered for calculation of income for Fy2021-2022?
Pl elaborate
2: Whether RSU vested upto Dec21 and sold are to be disclosed or from Jan-22 to March22 sold RSU are also required to disclose?
3: The capital gains of sold RSU from Jan-22 to March-22 are to be considered for calculation of income for Fy2021-2022?
Pl elaborate
20 May 2022
Great. Queries of various members observed resolve 👍
20 May 2022
1 yes, show separate entries details for different vested dates.
2 yes.
3 yes.
Check the schedule and fill the details required.
2 yes.
3 yes.
Check the schedule and fill the details required.
21 May 2022
Thanks a lot for your reply. But still I have a doubt that if I will show RSU sold from Jan-22 to March-22 in ITR2 of FY2021-22 then whether these RSU I.e from Jan-22 to Mar-22 will be required to furnish in ITR of FY2022-23 as these are in Calendar year of USA Jan-22 to Dec -22?
2: If yes then my question is that I will be declaring it in FY2021-22 so whether capital gain of these sold RSU is to be considered in FY2021-22 or FY2022-23. Pl clarify
3: Whether details of DEMAT account are required to furnish in ITR-2 and if Yes then under which of FA.
Thanks in advance
2: If yes then my question is that I will be declaring it in FY2021-22 so whether capital gain of these sold RSU is to be considered in FY2021-22 or FY2022-23. Pl clarify
3: Whether details of DEMAT account are required to furnish in ITR-2 and if Yes then under which of FA.
Thanks in advance
21 May 2022
Is he a resident of India.
21 May 2022
Yes. Indian resident got RSU of MNC situated in USA
21 May 2022
Reporting of foreign assets in income tax return: CBDT issues clarification
Chartered accountants had pointed out that resident individuals with foreign assets were facing problems in reporting the same in the ITR to be filed for FY2018-19.
CBDT has clarified that only foreign assets acquired as per the relevant accounting period of the foreign country have to be reported while filing ITR for FY 2018-19.
The finance ministry has issued a clarification on how to fill income tax returns for FY2018-19 for resident Indians holding foreign assets. Such individuals were facing problems in reporting foreign assets in the ITR wherever the financial year in India differed from that of the country in which the asset is held. The Central Board of Direct Taxes (CBDT) has issued a clarification dated August 27 regarding the above. In the circular the CBDT has clarified that only foreign assets acquired as per the relevant accounting period of the foreign country have to be reported while filing income tax returns (ITRs) for the financial year 2018-19.
Reporting of foreign assets in income tax return: CBDT issues clarification
Chartered accountants had pointed out that resident individuals with foreign assets were facing problems in reporting the same in the ITR to be filed for FY2018-19.
CBDT has clarified that only foreign assets acquired as per the relevant accounting period of the foreign country have to be reported while filing ITR for FY 2018-19.
The finance ministry has issued a clarification on how to fill income tax returns for FY2018-19 for resident Indians holding foreign assets. Such individuals were facing problems in reporting foreign assets in the ITR wherever the financial year in India differed from that of the country in which the asset is held. The Central Board of Direct Taxes (CBDT) has issued a clarification dated August 27 regarding the above. In the circular the CBDT has clarified that only foreign assets acquired as per the relevant accounting period of the foreign country have to be reported while filing income tax returns (ITRs) for the financial year 2018-19.
21 May 2022
Capital gain of these sold RSU is to be considered in FY2022-23, as per the CBDT clarification.
21 May 2022
Thanks a lot for your quick reply 🙏
21 May 2022
You are welcome..............
24 May 2022
In ITR2 under which sr no of A1 to A5 of capital gain schedule, STCG on foreign stocks details is to be enter ? I am getting confused because under A5 it is for other than quoted share however my stocks are quoted on US exchange
25 May 2022
Enter in quoted shares......
25 May 2022
I don’t find suitable sr no from A1 to A5 for quoted shares of foreign.? Please mention Sr.no or under which section .
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