Answer

1. F

   Facts

   No. Schedule FA for foreign assets is for residents who are ordinarily resident. Non-residents and RNORs do not need to fill it.

2. P

   Provisions and law

   • Sec 6(1), Income-tax Act 1961 (now Sec 6, Income-tax Act 2025)An individual is resident if in India 182 days or more in the year, or 60 days or more with 365 days in the four earlier years, subject to exceptions.
   • Sec 139(1), Income-tax Act 1961 (now Sec 263(1), Income-tax Act 2025)Return filing conditions for residents with foreign assets.
3. A

   Analysis

   If you are non-resident, skip Schedule FA. If you became resident and ordinarily resident in a year, you must report foreign assets that year. Check your status every year. Missing Schedule FA as a resident can bring heavy penalties.

4. C

   Conclusion

   1. 1Confirm status for the year.
   2. 2Skip Schedule FA if non-resident or RNOR.
   3. 3Fill it if resident and ordinarily resident.
   4. 4Keep foreign asset records anyway.

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