As your employer had disclosed the income from exercise of the ESPP, you would be owning the shares listed overseas. Therefore, you would need to disclose such shares in Schedule FA (foreign assets) of your income tax return. Any asset owned overseas by a resident (other than a not ordinarily resident, or NOR) must be … Read more
If a foreign company offers stock options to employees of an Indian company, the domestic firm must report any future transactions involving these shares to the RBI, despite not being directly involved. The connection is that those receiving these employee stock ownership plans (Esops) and restricted stock units (RSUs) are residents working for the Indian … Read more
Selecting the incorrect form: One of the most common mistakes people make is choosing the incorrect form to file their taxes. Each form is tailored to a certain sort of income and taxpayer profile, and using the incorrect form might result in mistakes and processing delays. CA expert advises taxpayers to thoroughly analyse the qualifying … Read more