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Indian Residents Must Report Foreign Assets in ITR Schedule FA by December 31, 2025
Indian residents holding foreign assets must report them in Schedule FA of their Income Tax Return (ITR) for the calendar year ending December 31, 2025. This applies even if the asset was held for just one day, regardless of the foreign country's fiscal year. Non-residents and Not Ordinarily Residents are exempt. Failure to comply may result in penalties.
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