ITR form to submitted while having U.S. stock

ITR 521 views 4 replies

Dear All,

I am based in Chennai, India, working for a U.S. based company. I am a full time employee for 15 years. My company has allocated 10 stocks to me in Feb 2023 with a clause of ownership that I will be owning the stocks if I continue serving for 3 more years. Failing which, it will be added back to the company. I cannot sell the stocks within the 3 years duration. It is listed in my Form 16 at 1 (b) as "Value of perquisites under section 17(2) (as per form No.12BA, wherever applicable)" and at 12 BA, it is mentioned as "Stock options (non-qualified options) other than ESOP".

Since foreign stock was given, some are saying that I need to file ITR-2. Since it is allocated to me on Feb 2023, some are saying I can submit ITR-1 for FY 2022-2023 whereas I need to submit ITR-2 by next year.

I would like to know which ITR I should submit. In case if I need to submit ITR-2, can this be done by myself (or) does this need to be done via an auditor?

Any advice/help is greatly appreciated!

Replies (4)

File ITR 2. You can file yourself, if have primary knowledge.

Hi Gunasekaran. I'll be happy to help you. Please check the details in your inbox.

Thank you for the guidance. I have submitted ITR 2.

You are welcome.

Good Luck...            


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register