Forgot to disclose Foreign assets in ITR

[User_fa5243bc]

U

User_fa5243bc
PARTICIPANT
March 4, 2025 at 1:36 pm

I had US shares in Vested for FY 2021-22 having 2 foreign shares as assets (approx INR 3500 only) for calender year 2021. But my CA doesnot show this asset in FA schedule. Also he did not filled in FSI, TR schedule. He just showed capital gain (Rs 5k only) under ‘From sale of assets other than at A1 or A2 or A3 or A4 or A5 above’. Dividend was Nil. Interest was Rs 10.

Total ITR income was less than basic exemption limit). So no tax paid.

For next FY 2022-23, 2023-24 we have fully filled all the relevant schedules- FA, FSI etc of foreign assets/income

Whether we need to fill ITR-U for FY 2021-22 for that small amount to avoid penalty under black money act?

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[Jayabro685]

J

Jayabro685
PARTICIPANT
March 4, 2025 at 3:11 pm

Ask in r/IndiaTax

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