Returning NRI · Compliance tool
Schedule FA Disclosure Builder
Becoming Resident & Ordinarily Resident (ROR) in India? Every foreign asset you hold needs disclosure in Schedule FA of your ITR-2. Add your assets below — this tool maps each one to the correct Schedule FA table, computes your aggregate peak value against the ₹20 lakh non-immovable safe harbour (Finance (No. 2) Act 2024, effective 1 October 2024), flags Section 89A eligibility for your retirement accounts, and tells you the Black Money Act 2015 exposure if disclosure is missed.
Confirm your residential status before using this tool
Schedule FA applies only when you are Resident & Ordinarily Resident under Section 6 of the Income-tax Act. If you are NR or RNOR, no Schedule FA filing is required for that year. Check your residential status →
Add your foreign assets — peak value during the calendar year
Schedule FA reports peak value during the calendar year (Jan–Dec), not the financial year. Use SBI's Telegraphic Transfer Buying Rate (TTBR) for currency conversion. Aggregate ownership-adjusted values determine safe-harbour eligibility.
Asset #1
Counts toward the ₹20 lakh aggregate non-immovable safe harbour (post-1 Oct 2024). The historical ₹5 lakh foreign-bank-only proviso was substituted by the ₹20 lakh threshold per Finance (No. 2) Act 2024.
Use SBI TTBR on the date of peak balance for FX conversion.
Disclosures
- Educational tool, not advice. TrustNRI is not a SEBI-registered IA / RA. The output is a prima facie mapping — your actual Schedule FA filing should be reviewed by a Chartered Accountant familiar with the Black Money Act.
- Statutory references current as of 3 May 2026. Income-tax Act Section 6 (residential status), Schedule FA of ITR-2, BMA Sections 3 / 41 / 42 / 43 / 49 / 50 / 51, Finance (No. 2) Act 2024 ₹20L safe harbour effective 1 October 2024, Section 89A read with Rule 21AAA and Form 10-EE.
- Calendar year reporting. Schedule FA covers assets held during the calendar year (Jan–Dec) ending in the FY for which the ITR is filed. Use SBI TTBR for currency conversion.
- Section 89A notified countries. US, UK, Canada only as of 3 May 2026. Australia, Singapore, Hong Kong, Gulf — not notified.
- FATCA / CRS automatic exchange. India receives foreign-account data automatically from US (FATCA, since 2015) and OECD CRS countries (since 2017). AO discovery via these channels is increasingly common.
- Consult professionals. For prior-year corrections, voluntary disclosure, or BMA notice response, engage a tax-litigation CA before approaching the AO. See the related Schedule FA guide.