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Calendar year or financial year: what Schedule FA actually asks for
Understand why foreign asset reporting periods and Indian income-tax periods can produce different, valid totals.
Schedule FA asks for foreign assets held during the relevant calendar year, while several income schedules follow the Indian financial year. That means two totals can differ without either being wrong.
Start by identifying the period requested by each schedule. Keep the supporting broker statements and conversion records grouped by that period, and have the completed return reviewed before filing.
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Got US Stocks From Your Employer? Calculate Schedule FA Accurately
Convert foreign broker statements (Fidelity, Morgan Stanley, E*TRADE, Schwab) into clean, audit-ready tables for Indian ITR-2 disclosure.
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