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Are NRIs required to provide details for unlisted foreign equity shares?

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21 Points Posted on 27 July 2023

I am a NRI since the last 4 years and I'm filing ITR-2. While filing the return, I came across a section about "unlisted equity shares".

I hold unlisted shares of my employer since the last 2 years. My employer is not registered in India and has no offices/employees/business in India (or a PAN). All transactions for these shares (purchases, dividends etc.) are done through my foreign bank account and no remittences are made to India.

Am I required to provide details of these unlisted shares in my ITR?

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Quick Summary

A Non-Resident Indian (NRI) filing their ITR-2 return is seeking clarification on whether they need to declare details of unlisted foreign equity shares. The NRI holds shares in their foreign employer, with all transactions conducted outside India and no remittances made to the country. The question is whether these shares must be reported in the Indian tax return.