How to go about disclosing previously undisclosed foreign assets in Schedule FA of ITR-2?

I have received RSUs from my company during the calendar years 2021 and 2022, but due to ignorance I failed to update schedule FA of ITR-2. How can I go about fixing this, will I be able to update the previous 2 ITRs using ITR-U?

 

Replies (8)
Quick Summary
This discussion addresses how to disclose previously undisclosed foreign assets, specifically RSUs, in Schedule FA of ITR-2. The user failed to disclose these in previous years due to ignorance and is seeking guidance on rectifying the omission. It is suggested that filing an updated return (ITR-U) is the correct method to disclose these assets, even if no tax is immediately due from selling the RSUs. Failing to disclose can lead to future complications with the tax authorities.

Upload the schedule it will be disclosed
Originally posted by : sabyasachi mukherjee
Upload the schedule it will be disclosed

Is it possible to just upload the schedule in ITR-U without any additional tax outflow? 

It will also not possible to disclose this way.
Originally posted by : sabyasachi mukherjee
It will also not possible to disclose this way.

Any idea on how do I rectify this then? Any help is greatly appreciated 🙏

Obviously

I don't understand what's the obvious part here.

Hi, you can file updated return and show this in respective schedule. since you have not sold any rsu, there shall be no tax.

but not showing it to the department, can get you into trouble in the future.

please inbox if you need help in filing updated return.

Thanks, I've inboxed you.

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