The Economic Times

Foreign shares, overseas bank accounts, and three other disclosures you must make in Schedule FA of the ITR for AY 2026-2027

Indian taxpayers face new foreign asset reporting rules for AY 2026-2027. Schedule FA requires disclosures for foreign shares and overseas bank accounts. Employee stock options and cryptocurrencies also demand careful reporting considerations. Jointly held foreign accounts need accurate disclosure based on fund ownership. Accurate reporting is crucial to avoid penalties under the Black Money Act.