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Foreign Asset schedule FA of ITR
If a non-resident indian submits the income tax return in India, is it necessary to show the Foreign Asset in its income tax return?
Replies (1)
No.
The 'Schedule FA' reporting requirement is applicable to individuals qualifying as Resident and Ordinary Residents (ROR) in India. Individuals who are Non Residents (NR) or Not Ordinarily Residents (NOR) in India are not required to report foreign assets.
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