Find
No. Schedule FA for foreign assets is for residents who are ordinarily resident. Non-residents and RNORs do not need to fill it.
ITR
NRIs do not fill Schedule FA
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Provisions
Sec 6(1), Income-tax Act 1961 (now Sec 6, Income-tax Act 2025); Sec 139(1), Income-tax Act 1961 (now Sec 263(1), Income-tax Act 2025)
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.
Close
- Confirm status for the year.
- Skip Schedule FA if non-resident or RNOR.
- Fill it if resident and ordinarily resident.
- Keep foreign asset records anyway.
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