• Schedules FSI, TR, FA of ITR2 AY 2018-19 for permanent NRI

Income tax return to be filed for a permanent NRI, who has income in India from interest on NRO account only. Is it necessary to fill up the Schedules FSI, TR and FA of ITR2 AY 2018-19?
Asked 6 years ago in Income Tax

Dear Sir,

Details of FSI, TR is for persons resident in India and having income from outside India on which WHT as deducted and he wants to claim tax relief. Similarly FA schedule is for resident Indian having assets in foreign country.

Thanks

Vivek Kumar Arora
CA, Delhi
4825 Answers
1031 Consultations

5.0 on 5.0

Hi,

Hope you are doing well !

It is not necessary for NRI.

All these are required to be filled by person resident in India.

Thanks & Regards,

Payal Chhajed

Payal Chhajed
CA, Mumbai
5188 Answers
288 Consultations

5.0 on 5.0

A NRI who is not resident in India is taxable in India only in respect of income arising or received in India. In your case, only the interest earned on the balance in NRO account would be taxable in India. Your income earned outside India would not be taxable in India. Per the instructions to Form 2, Schedule FA is to be filled up by a resident assessee and hence, you would not be required to fill Schedule FA. Further, since your offshore income would not be taxable in India, the Schedule FSI and Schedule TR also would not be required to be filled.

Sanket Suresh Shah
CA, Mumbai
29 Answers

5.0 on 5.0

An NRI is not required to fill all these schedules.

This schedules are meant for resident in India.

Please feel free to call/ revert in case you need more clarity.

Thanks and regards

Abhishek Dugar

CA CS B.Com

Abhishek Dugar
CA, Mumbai
3576 Answers
183 Consultations

4.8 on 5.0

Hi

No. You don't need to fill up these schedules. These are applicable for residents.

Lakshita Bhandari
CA, Mumbai
5687 Answers
909 Consultations

5.0 on 5.0

HI,

Schedule FSI: This schedule needs to be filled only if the individual has foreign income on which he is claiming credit for the taxes paid outside India.

Schedule TR: Same as above.

Schedule FA: Only Resident individuals are compulsorily required to fill the foreign asset schedule if they possess any foreign asset.

Thanks

Damini

Damini Agarwal
CA, Bangalore
405 Answers
31 Consultations

5.0 on 5.0

Not required for NRI.

Nikhil Khanna
CA, Mumbai
1429 Answers
19 Consultations

4.8 on 5.0

Hi,

These all fields are for Residents,So you need not to fill up all these.

Swati Agrawal
CA, Mumbai
1146 Answers
7 Consultations

5.0 on 5.0

Hi

If you are not required to pay taxes on such income as you are a NRI then you can skip such schedules, these schedules are compulsorily for resident person and who want to claim rebate from double taxation

Varun Chawla
CA, Ghaziabad
74 Answers
1 Consultation

5.0 on 5.0

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