WobblyWaffle
WobblyWaffle

Disclosure of Foreign Assets in ITR2

I own stocks of a previous employer which is US-based. I did not explicitly disclose Foreign Assets in any of my previous year returns, as I was not aware of it and the CAs on Cleartax never informed me of it. I am filing taxes myself this year and while doing so, came across this requirement. I am including assets purchased last year in this tax-filing season. What can I now do to report previous foreign assets that I got as part of my previous company CTC in previous years? Can I report now? Or is the schedule FA only for the duration of 2023 only?

11mo ago
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9 min AI interview5 questions
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SparklyPanda
SparklyPanda
EY11mo

Start from now if you cannot revise.

WobblyNugget
WobblyNugget

Is it necessary to file sec 139 (8a) itr-u to add disclosure alone. Will there be any penalty for that?

Or as you said, disclosure in current filing is enough?

SparklyPanda
SparklyPanda
EY11mo

Required

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