I am working for a US based MNC in India and possess some stocks (RSU) which the company has been giving to me as part of compensation. I pay short/long term capital gain taxes whenever I sell the stocks and get the money to India and the company deducts TDS on each vesting and shows it under Perquisites in Form16. Section FA (Foreign assets) of ITR2 require declaration of financial intereset or investment in an entity abroad. I am not sure if company provided RSUs should come under this since this is not a "Investment" as such but part of my work compensation. Should I be declaring foreign assets in ITR2 (Section FA) for the unvested RSUs as on 31 Mar 2014? Please let me know your expert advice. Any potential repercussions of not declaring it?
CAclubindia
