If you're salaried, a pensioner, a student, or someone else who doesn't need to do a tax audit, make sure to file your income tax return (ITR) on or before July 31, 2026. But, if you have invested in foreign assets, you need to report that in Schedule FA of the ITR, provided your residential status is 'resident and ordinarily resident (ROR)'.
The reason behind this is that the requirement to disclose foreign assets in Schedule FA (Foreign Assets) hinges on the taxpayer's residential status for that financial year. So, only those classified as Resident and Ordinarily Resident (ROR) have to worry about the Schedule FA disclosure.
