For salary earned in India from foreign employer, Schedule FSI needs to be filled. But need clarity regarding applicability of Schedule FA-Foreign assets.
Client doesn't have any bank account in foreign country. Entire salary is credited to Indian bank account. Hence there is no foreign asset that needs to be reported. But Schedule FA has a line item "G- Details of any other income derived from any source outside India"
Will salary income fall under this category G? Is Schedule FA applicable in this specific case?
CAclubindia
