Schedule FA in ITR 2 (Table A2 and A3)

1. For Foreign Assets, in Schedule FA, Table A2 (Custodial Accounts) should the peak value & closing value show ONLY the idle cash sitting in the brokerage account in USA or should it include the value of the stocks purchased. (OR  are shares purchased mentioned only in Table A3 with cash balance of brokerage account in A2)?

2. If I were to remit an amount to my brokerage account, should anything be mentioned against gross amount paid/credited to the account in Table A2(Schedule FA)? (dropdown has nature of amount as: Interest/Dividend/Proceeds from sale of assets/other income/no amount paid credited)

3. Table A3 requires peak value of stocks held. If I sell my stocks on say, June 1st, will the peak value be of the period between 1st Jan to 1st June or will it be the peak value of the stock anytime during the calendar year(i.e. even after I have sold it)?

Replies (3)
Quick Summary
This discussion clarifies how to report foreign assets in Schedule FA of ITR 2. It addresses whether to include stock values in Custodial Accounts (Table A2) or only idle cash, and how to report remitted funds. It also explains how to determine the peak value of stocks held in Table A3, particularly when assets are sold during the financial year.

Schedule is available

Dear Gopalkrishnan, 

 

please refer to this article. This should address all your queries with example.

https://www.taxmann.com/post/blog/understanding-schedule-fa-guide-on-disclosing-foreign-assets-income-in-itr-filing-for-indian-residents

No not available

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
19 September 2026
CA/Semi-CA/BCom

Pravin Sarvaiya

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 18 September 2026
Industrial Trainee

Twenty Point Nine Five Ventures Private Limited

Noida

CA Inter

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
08 September 2026
Audit Executive

Thammana & Associates

Srikakulam

B.Com

View Details
Company
ARTICLESHIP 25 August 2026
CA Article's

Saini Pati Shah & Co LLP

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details