Bank details, peak balance, SWIFT code, Account number, Interest income
Please provide the details of all the foreign bank accounts held by you during the fiscal year under reference. The peak balance to be mentioned and the interest Income to be mentioned should by in reference to the fiscal year in concern. If you are unsure about the (Schedule where offered) and (Item number of schedule *) column please mention "dont know" in the space provided
Benefical interest, Financial interest
In case you are a owner or holder of legal title of any financial account, an agent, nominee, attorney or a person acting in some other capacity, you are required to fill this section.
Foreign Land, Foreign Building Foreign immovable property
Please provide details of any immovable property held by you outside India during the financial year. Immovable property could include land, building etc. The property could be purchased or inherited. Incase the property is inherited you can mention the purchase date of the previous owner. Kindly mention your ownership in relation to the property. The total cost of acquisiton of the property (including all cost incurred to acquire the property) needs to be reported.
Foreign Capital Assets, Foreign shares, Foreign debentures,
Any foreign asset which is not part of the business or profession and is not part of stock in trade, other than securities are to be mentioned in this section. Any Income derived from these capital assets is also to be reported and taxed as per the provisions. (e.g would be dividend form retirement fund income)
Signatory, Authority Accounts
In case you are a signing authority in any of the institutions/trusts/beneficiary financial institutions the same will have to be reported under this section of foreign assets. Income if any, earned from the them are to be reported and taxed as per the provisions of the Act.
Foreign trust details
If you are a trustee, settlor or beneficary of any foreign trust, its details to be provided in this section. Income if any, earned from these trusts are to be reported and taxed as per the provisions of the Act.
Foreign Income, Foreign salary
Any Income which you think does not form a part of the earlier mentioned sections is required to be provied under this head. (Eg Income from foreign Salary )