ROR in India must declare foreign assets held in 2025
If you are a Resident and Ordinarily Resident (ROR) in India, you must declare any foreign assets, like overseas bank accounts, investments, properties, or financial interests, when filing your Income Tax Return for FY 2025-26.
This requirement applies to returns filed by July 31, 2026, and covers anything held abroad between January 1 and December 31, 2025.
Indirect beneficiaries must report foreign assets
Even if you just benefit from or have an indirect stake in foreign assets, you have to report them.
NRIs and Resident but Not Ordinarily Resident (RNOR) people are off the hook unless their status changes to ROR that year.
Miss out on reporting or get the details wrong? You could face a penalty of ₹10 lakh under the Black Money Act, so double-check your residential status and make sure your ITR form includes Schedule FA.