Hi Sir, I'm trading in Indian stock market, but recently employed in Dubai and continuing trading from here as well.. didn't opened NRE account due to this scenario.. going forward how this will affect ? I'm filling ITR3 for past couple of years.. can this scenario be continued?
Sir, for an employee working in India for a US-based MNC, buying stocks through the Employee Stock Purchase Program (ESPP) and receiving quarterly dividends on the UBS platform in the US, with no US bank account other than the stock platform, is it necessary to report these dividends in the Indian ITR every year, disclose the stocks and platform under foreign assets annually, or only report when selling the stocks?
As per Indian tax laws and the ongoing compliance campaign by the CBDT, any individual who is a resident in India for tax purposes is required to disclose all foreign assets in their Income Tax Return (ITR) annually. This includes: 1. Disclosure of Stocks & Platforms: The stocks purchased under the Employee Stock Purchase Program (ESPP) and the UBS platform (considered as foreign assets) must be disclosed under the Schedule FA (Foreign Assets) of the ITR, even if you have not sold the stocks. 2. Reporting of Dividends: Any quarterly dividends received on these stocks, even if credited to the UBS platform, are taxable in India as Income from Other Sources. You are required to include them in your annual income and pay tax accordingly. 3. Sale of Stocks: When the stocks are eventually sold, the capital gains/losses will also need to be reported in the ITR for the respective financial year. Non-disclosure of such foreign assets or income may lead to severe penalties under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. Therefore, it is essential to report both the existence of these foreign assets and any income derived from them annually.
@mycasubinvr: if the same company is offering free share through the platform with dividends loading quarterly,whether that should also be disclosed as a foreign asset even if he/she is not withdrawing it?The employee has just accepted the free share and did not do anything else.
The caption is misleading. A majority of people who has foreign asset and/or earn foreign income are NRIs. And this is not applicable for NRIs. That clarification comes at the very end of this talk. Stating that up front would save precious time for most people. Quite frankly, I myself did not learn anything new from the video, and was very annoyed at falling for the click-bait caption!
A Revised Return can be filed under Section 139(5) of the Income Tax Act, 1961. Here are the key details: 1. Eligibility: A revised return can be filed if the taxpayer discovers any omission, error, or wrong statement in the original return filed under Section 139(1) or a belated return filed under Section 139(4). 2. Time Limit: A revised return must be filed on or before 3 months prior to the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.
NRI Avan 182 day abroad poyi stay chydal madyo. This financial year il nja 170 day abroad ayirunu. Oru 12 day nja international trip koodi plan chydal enik NRI Avan patttumo?
These is no such thing as dual citizenship, Indian citizen cannot obtain different Nationality until they surrender Indian Nationality . America, Britain, Australia allows dual nationality but an Indian citizen cannot obtain different nationality, if anyone keeps a foreign passport and an Indian passport together is a crime Tax rule suggests if you are a tax resident, in India living more than six months whoever has to file returns if they earn money in India and abroad
if any body earns in foreign countries those countries are taking the tax. With out tax nobody can earn any money in foreign countries exept gulf countries.
Ith Non Residents inu applicable alla ennu ellarkkum ariyam but the Title is clickbait.. just to confuse NRIs ?? NRIs are not liable to IT unless they have a source of income in India - example - from their assets like rental income from a house on rent etc.,
Many NRIs called office, being afraid that it is applicable to them. That is why we did the video. You are very much updated in tax laws, congratulations. But every one not updated as you !
@@MyCAsubinvr Cmon.. in a place like Kerala where every family has Atleast one NRI / NRI family, this is common knowledge. How did the NRIs manage before TH-cam came ? 😀 Anyways great effort on your part.. 👍
2022_23 ൽ ടാക്സ് ചെയ്തപ്പോൾ 10E calculate ചെയ്തിരുന്നെങ്കിലും relaxation claim cheyyan വിട്ടുപോയി. ഇനി ഇപ്പൊൾ ചെയ്യാൻ എന്തെങ്കിലും possibility ഉണ്ടോ 😢😢
Very informative and explained well . Thanks for your valuable services.
Thank you for valuable information.
ഇവർക്കൊന്നും. അദാനി ഉം അംബാനി ടെ ഒന്നും. അറിയേണ്ട ആവശ്യം ഇല്ലാ
അതേ അധനിയുടേം അമ്പനിയുടേം ടാക്സ് നീ ആണല്ലോ അടക്കുന്നത് , പോയി അവരുടെ ടാക്സ് ഒന്ന് ഗൂഗിളിൽ അടിച്ചു നോക്ക് പൊട്ട
യൂസഫാലി ,വിപ്രോ പ്രേംജി ,മലബാർ ഗോൾഡ് ആലുക്കാസ് മുത്തൂറ്റ് ഇവർക്കൊന്നും ബാധകം അല്ലെ 😮
Rahul pappuntem mummydem foreign assets investments onnum ariyenda avasyamille
@ Yes, forth richest lady.. her business seems nothing 😢
Valuable information.😮
I am holding 5% of equity holding in a Dubai based non listed company. Can i disclose it in the ITR? No devidend is declared by the company till date
Hi Sir, I'm trading in Indian stock market, but recently employed in Dubai and continuing trading from here as well.. didn't opened NRE account due to this scenario.. going forward how this will affect ? I'm filling ITR3 for past couple of years.. can this scenario be continued?
ഇത് NRI kku ബാധകമല്ല എന്ന് ആദ്യമേ തന്നെ പറയാമായിരുന്നില്ലേ.....? ...that's the key point
Sadharanakkaran oru divasam etra gst avande nithya varumanathil ninum kodukunundakum ennu engine manasilaakum
Thank you dear, very informative
Glad it was helpful!
Thanks sir 😊
വിദേശത്ത് 3.75 lakhs കിടപ്പുണ്ട്. അതു declare ചെയ്യണോ? Minimum തുക / assett എന്ന് ഉണ്ടോ?
Is it applicable to NRI
👍very informative
Glad you think so!
Sir, for an employee working in India for a US-based MNC, buying stocks through the Employee Stock Purchase Program (ESPP) and receiving quarterly dividends on the UBS platform in the US, with no US bank account other than the stock platform, is it necessary to report these dividends in the Indian ITR every year, disclose the stocks and platform under foreign assets annually, or only report when selling the stocks?
As per Indian tax laws and the ongoing compliance campaign by the CBDT, any individual who is a resident in India for tax purposes is required to disclose all foreign assets in their Income Tax Return (ITR) annually.
This includes:
1. Disclosure of Stocks & Platforms: The stocks purchased under the Employee Stock Purchase Program (ESPP) and the UBS platform (considered as foreign assets) must be disclosed under the Schedule FA (Foreign Assets) of the ITR, even if you have not sold the stocks.
2. Reporting of Dividends: Any quarterly dividends received on these stocks, even if credited to the UBS platform, are taxable in India as Income from Other Sources. You are required to include them in your annual income and pay tax accordingly.
3. Sale of Stocks: When the stocks are eventually sold, the capital gains/losses will also need to be reported in the ITR for the respective financial year.
Non-disclosure of such foreign assets or income may lead to severe penalties under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. Therefore, it is essential to report both the existence of these foreign assets and any income derived from them annually.
@mycasubinvr: if the same company is offering free share through the platform with dividends loading quarterly,whether that should also be disclosed as a foreign asset even if he/she is not withdrawing it?The employee has just accepted the free share and did not do anything else.
എല്ലാവരും എന്ന് ഉദ്ദേശിക്കുന്നത് , Indian Citizen മാത്രമാണോ.
Itr 3 submit cheythu but now it showing as itr 1.any corrections need
The caption is misleading. A majority of people who has foreign asset and/or earn foreign income are NRIs. And this is not applicable for NRIs. That clarification comes at the very end of this talk. Stating that up front would save precious time for most people. Quite frankly, I myself did not learn anything new from the video, and was very annoyed at falling for the click-bait caption!
Sir gulfil work cheyuvaanenkil idhu veeeyno
Very very useful video
Thanks a lot
Crypto tax... ഞമ്മൾ ബാങ്കിലേക്ക് withdraw ചെയ്യുന്ന ഫണ്ടിനാണോ itr ഫയൽ ചെയ്യേണ്ടത്
No. For profit
Subin sir, this revised return to be filed under which section? please advise
A Revised Return can be filed under Section 139(5) of the Income Tax Act, 1961. Here are the key details:
1. Eligibility:
A revised return can be filed if the taxpayer discovers any omission, error, or wrong statement in the original return filed under Section 139(1) or a belated return filed under Section 139(4).
2. Time Limit:
A revised return must be filed on or before 3 months prior to the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.
O kashtam jeevikkan anuvadikkilla
Eee naria department kondanu arum tax adakkathathu
NRI Avan 182 day abroad poyi stay chydal madyo. This financial year il nja 170 day abroad ayirunu. Oru 12 day nja international trip koodi plan chydal enik NRI Avan patttumo?
If stay in India is 182 days or more, you will become Resident
@@MyCAsubinvr182 days have been changed in recent years to 4months + 150 days in previous 5 years?
Sir ente friend 10 lakhs ente account ilek bank transfer cheythal it notice varumo
No
My monthly salary I am sending to my NRI account.So do I have to file I T return.Till this time I didn’t file.Is there any slabs for NRI’s
Dual citizenship ഉള്ളവർ,india yil resident ആയിട്ടുള്ളവർക്ക് ഇത് applicable ആണോ?
These is no such thing as dual citizenship, Indian citizen cannot obtain different Nationality until they surrender Indian Nationality . America, Britain, Australia allows dual nationality but an Indian citizen cannot obtain different nationality, if anyone keeps a foreign passport and an Indian passport together is a crime
Tax rule suggests if you are a tax resident, in India living more than six months whoever has to file returns if they earn money in India and abroad
👍
if any body earns in foreign countries those countries are taking the tax. With out tax nobody can earn any money in foreign countries exept gulf countries.
വിദേശ പൗരത്വം ഉണ്ടേൽ IT return വേണോ?
India yil വരുമാനം ഉണ്ടെങ്കിൽ
Ith Non Residents inu applicable alla ennu ellarkkum ariyam but the Title is clickbait..
just to confuse NRIs ?? NRIs are not liable to IT unless they have a source of income in India - example - from their assets like rental income from a house on rent etc.,
Many NRIs called office, being afraid that it is applicable to them. That is why we did the video. You are very much updated in tax laws, congratulations. But every one not updated as you !
@@MyCAsubinvr Cmon.. in a place like Kerala where every family has Atleast one NRI / NRI family, this is common knowledge. How did the NRIs manage before TH-cam came ? 😀
Anyways great effort on your part.. 👍
2022_23 ൽ ടാക്സ് ചെയ്തപ്പോൾ 10E calculate ചെയ്തിരുന്നെങ്കിലും relaxation claim cheyyan വിട്ടുപോയി.
ഇനി ഇപ്പൊൾ ചെയ്യാൻ എന്തെങ്കിലും possibility ഉണ്ടോ 😢😢
No