How do you actually file your taxes if you invest in foreign ETFs through Interactive Brokers, Indmoney, Paasa or Vested? Most Indian investors get stuck right with disclosures like Schedule FA, Form 67, and Foreign Source Income.
In this video, CA Vamika walks you through the complete ITR filing process for Indian investors in foreign ETFs using a real IBKR statement as an example. Whether you hold UCITS ETFs like CSPX, US ETFs like VOO and QQQ, or you’re just thinking of investing internationally, this video tells you exactly which schedules to fill, what numbers to enter, and where to enter them.
We cover three scenarios most foreign investors fall into:
– Scenario A: Pure buy-and-hold (just Schedule FA)
– Scenario B: When you sell during the year (Schedule FA + Schedule CG)
– Scenario C: When you earn dividends from US ETFs (Schedule FA + Schedule OS + Schedule FSI + Schedule TR + Form 67)
You’ll learn:
► Which ITR form to use if you hold foreign ETFs (hint: ITR 1 and ITR 4 are not allowed)
► Why Schedule FA uses Calendar Year and not Financial Year
► How to fill Schedule FA Table A1, A2 and A3 step by step
► The dual country code trap : why CSPX is Ireland (353), not US (1)
► How to calculate Peak Balance and Closing Balance using IBKR monthly statements
► How to compute capital gains on foreign equity using SBI TT buying rates
► Why FIFO matters for cost calculation
► How to claim Foreign Tax Credit on US dividends via Form 67
► Where to find Form 1042-S in your IBKR account
► How Schedule FSI, Schedule TR, and Form 67 work together
► The deadline for Form 67 and what happens if you miss it
► Common mistakes that can trigger Black Money Act penalties
Whether you’re filing your ITR yourself or reviewing your CA’s work, this video gives you the practical knowledge to file your foreign investments correctly.
⚠️ This video is educational content based on current Indian tax laws (Income Tax Act 1961, Black Money Act 2015, and Budget 2024/2025 updates). It is not personalised tax or legal advice. Please consult a qualified Chartered Accountant for your specific situation.
📌 Watched the previous video on LRS, TCS, and capital gains tax rules for international investing yet? Link here: https://youtu.be/yCd0bsRMtCQ
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