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The Economic Times

Economy / The Economic Times

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Own foreign assets? File your ITR the right way

Resident and Ordinarily Resident (ROR) taxpayers with foreign assets or income must carefully disclose overseas investments, dividends and accounts while filing ITR. Direct foreign holdings require Schedule FA reporting, unlike Indian international mutual funds. Errors can attract penalties under the Black Money Act, making accurate disclosure and timely corrections essential for compliance.

29 Jun 2026 6:30 am