This discussion clarifies how to report foreign income from multiple accounts for tax purposes. It explains that savings account balances, including dividends, should be reported in Table A1. Trading and custodian accounts are to be reported under Table A2.
11 July 2024
I hold 3 accounts in a foreign country for trading stocks. One is a savings account which was opened long back during my employment and has a small balance in it. Second one is a brokerage account as in a Trading account which facilitates purchase and sale of transactions for a brokerage cost and last a custodian account like NSDL/CSDL in India for holding securities.
Dividends which I receive from investment are directly credited to the savings account. Under Table A1 in FA schedule savings accounts gross credits during calendar year only applies to interest recieved. My question is in which table can I show this account in addition to table A1, so my reporting covers dividend recieved. I assume under table A2 I will have to report my trading and custodian accounts