Did you guys declare US stocks in ITR?
Last FY I have sold some US stocks not more than 10k profit and got some dividends. Do I need to declare it in FA schedule. And some of my friends didn't sold but still got dividends but they didn't declared in FA schedule and filed ITR - 1. Should I also file ITR -1 simply not 2? Bcz declaring FA schedule is very complex and CA and clear tax is charging 3.5k.
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It is always better to declare everything in your ITR to avoid troubles later. Your ITR is also an important document that is used in multiple places. It’ll be better to speak to a CA to see if there is scope of reducing this liability, but it is always good to declare all data.
How do you invest in US stocks? If you are using vested, it's relatively easy. You can do it yourself based on youtube videos and ITR online forms on the website. Vested shared all the details and files in neat excel formats to enable filing. Wasn't that complex.
This is only applicable if your income is above 50 LPA and at that income, you really should not be stingy & hire a good CA for 5k
If you receive dividends from US stock, you have to MANDATORYILY bring the money back to India within a stipulated time.
Check with a CA or read online. You don't wanna be penalized for it for sure.
I don't invest/trade in the US markets