Where a person is a ROR, he/she is required to file his/her income tax return if the person has any kind of foreign assets.
The reports should include the following:
Details of foreign assets and income from any source outside India – Schedule FA of the relevant Income Tax Return (ITR).
Details of Income from outside India (only in the case of resident and ordinarily resident) – Schedule FSI of the relevant ITR.
Disclaimer: This article is for informational purposes only. None of the contents of this article should be treated as advice.
