Guide to Reporting Foreign Assets in the myITreturn App – myITreturn Help Center

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If you are required to disclose foreign assets while filing your Income Tax Return, you can add the relevant details through the myITreturn app by following the steps below.

Important: Schedule FA is generally applicable to taxpayers who are Resident and Ordinarily Resident (ROR) in India and are required to disclose specified foreign assets, accounts, financial interests or foreign-source income. Schedule FA is generally not applicable to taxpayers who are Non-Resident (NR) or Resident but Not Ordinarily Resident (RNOR).

Step-by-Step Process to Add Foreign Asset Details

Step 1: Log in to the myITreturn App

Open the myITreturn app and log in using your registered credentials.

Step 2: Select the Member

Select the member for whom you want to prepare and file the Income Tax Return.

Select member in myITreturn app

Step 3: Choose Easy E-filing

Select Easy E-filing to continue with the return filing process.

Choose Easy E-filing

Step 4: Enable Foreign Asset Details

Locate the Foreign Asset Details option and enable it to enter information relating to your foreign assets.

Enable Foreign Asset Details

Step 5: Click “Add”

Select Add to enter the details of your foreign asset.

Add foreign asset details

Step 6: Enter the Required Details

Enter the required information carefully. After completing all applicable fields, select Save to continue.

Enter and save foreign asset details

Step 7: Review the Foreign Asset Summary

The foreign asset information entered by you will appear on the summary screen. Review the details carefully to ensure that the information is correct.

If you need to report more than one foreign asset or record, select Add again and enter the additional details.

Review foreign asset summary

Important Points to Remember

Enter your foreign asset information accurately and completely.
If you have multiple foreign assets or accounts, add each applicable record separately.
Foreign asset reporting may include foreign bank or depository accounts, custodial accounts, foreign equity or debt interests, financial interests in foreign entities, foreign immovable property and other specified foreign assets.
If Schedule FA is applicable to you, ensure that you select the appropriate ITR form containing the required foreign asset reporting schedules.
Keep the relevant bank statements, investment statements and supporting documents available while entering the details.

Need Assistance?

If you are unsure about how to report your foreign assets or need assistance with your Income Tax Return, you can connect with our team.

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