The Economic Times

Investing in foreign stocks? Missing dividend reporting in your ITR could cost you 200% penalty; heres how to fix it before its too late

Indian investors buying US stocks often overlook reporting dividend income, a common tax oversight. While foreign shares must be declared in Schedule FA, dividends are taxable in India. Failure to report can lead to penalties and scrutiny. Investors can rectify omissions via updated returns, though additional tax and interest apply.