Valura

GIFT City · IFSC

FY 2025-26
All answers
Compliance

What do I have to file in my tax return?

Own foreign stocks and you must declare every single one — miss it and the penalty is ₹10 lakh a year.

₹10L

penalty per year for failing to disclose foreign holdings

Filing burden: direct vs GIFT City

Direct
Via GIFT City
Which ITR form
ITR-2 or ITR-3 (never ITR-1)
ITR-2 or ITR-3
Foreign-asset disclosure
Every holding in Schedule FA, Table A3
One IFSC fund entry
Foreign income
Schedule FSI + Schedule TR
Minimal
Penalty risk
₹10L/yr if a holding is missed
Far lower surface area

What to do

  1. 1

    Use ITR-2 (salary/capital gains) or ITR-3 (business) — never ITR-1.

  2. 2

    Enter each foreign holding in Schedule FA, Table A3 (held during the calendar year).

  3. 3

    Report foreign income in Schedule FSI and claim relief in Schedule TR.

  4. 4

    Cross-check every entry against your AIS and Form 26AS before filing.

Ask the AI advisor about your exact situation

It knows your profile and runs the real tax calculations — not a generic chatbot.

Illustrative only · Rules per Finance Act 2025 (FY 2025-26) · Figures are examples, not advice — confirm with a qualified CA / tax advisor before acting.