Taxation Guide for Indians Investing in US Stocks and Shares | ITR Filing, Form 67 & Schedules

In this comprehensive session, we will discuss the complete taxation process for Indian investors venturing into the US stock market. Join us as we provide an in-depth guide on filing your Income Tax Return (ITR) with a focus on US stock and share investments. Explore the nuances of tax compliance, including important schedules such as Schedule Foreign Asset, Schedule Foreign Source Income, and Schedule Tax Relief. Gain insights into the complexities involved in filing Form 67 and other relevant forms. Don't miss out on this valuable information that will empower you to navigate the intricacies of tax regulations while optimizing your financial planning and investment strategies.
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[@FinTaxPro]

For Filing ITR, you may connect at 9718097735 or [e-mail]

[@tanweerashif]

Sir, I can’t thank you enough, really. You are one of the best financial advisors, and a good and kind person too. When your old video on ITR for US stocks got deleted, I felt I had no hope left. But here you again, on your way to help us for no cost. Thank you very much sir ji 🙏. Much love from us fellow filers😊!

[@highlights7324]

Hi tanweer. Do you know what one can do if the conversion rates as on those dates are not available in the reports? There are around 10 transactions of buy, sell each

[@tanweerashif]

@@highlights7324 Hey mate. I’m sorry that I’m late but I’d have raised a support ticket with my broker, if I had this issue. It’s their duty to generate reports with applicable conversion rates. Almost all brokers provide that actually. I hope that you got it and filed your returns.

[@jaynandangiri4401]

Dear Sir me kisi reason se apka video nhi dekh pa raha hu but .......Apka video jitne bhi youtuber hai sabse acha video Apka hi hota hai......Honge or bhi but you are the best.....

[@cooldude.1811]

Very comprehensive, systematic and easy-to-understand video. I just wish that ITD had made a separate CSV template for Schedule FA like they have made for data entry of several other investments, instead of this roundabout way of having to use the offline ITR utility.

[@resilient6831]

Hello Sir, The Dividend filled is Net Dividend by you but it should be Dividend Proceeds in INR otherwise it wont match Form-67 value. Please correct if I am wrong.

[@amansingh-o9m]

Great tool for diversifying portfolio with US stocks and ETFs.

[@NakulSurana-tf3nc]

Perfect app for goal based investment in the US stock market.

[@PushpendraKumar-bz1ii]

Best app for goal based investment in the US stock market.

[@ajitnandakumar]

At 25:10 think section is 90 is part of the text box description is U/s 90. I think the article number is article 10

[@rohansingh-f9d]

Comprehensive platform for US stocks and ETFs without the premium price tag

[@amansingh-o9m]

Appreciate app makes US trading effortless.

[@drishtiyadav5913]

Sir I am really impressed by your clarity about the topic

[@RAJNESHRANJAN]

Appreciate app helps achieve investment goals in the US market.

[@Comindance]

Why have u entered net dividend in dividend section... It should be before deduction of dividend tax... Also wrong article entered... It is 10

[@Ksudharsan7]

Thanks a lot sir, video was very elaborate and easy to understand too. Please continue doing videos like this.

[@sravanvlsm]

Thank You so much for timely video on filing ITR 2 with Foreign Assets schedules

[@esbeesri2303]

As per form 67. besides 1042-S, you can also attach statements.

[@jaimahakal8908]

in U.S. MARKET share of different country listed , what is country code if invested in company having zipcode and address of other country (like taiwan , india , share listed on u.s. stock) ...wat will be country code in SCH FA in this case

[@avinashgupta1902]

Sir I'm a student and i invested in us stocks and India stock with some of my savings .. so what itr form i have to file ..??

[@dimplebhatia3043]

Sir u are doing a wonderful job, may God bless you

[@rammondal8147]

Thanks a lot🙏. This video helped me to add my US Stocks' details to file ITR return.

[@BakyarajChannel]

Hi, one query - While filing capital gain, The conversion rate should be taken for Selling date or buying date?. BTW, This video is so much helpful for me in filing capital gains.

[@Study-Poosarlasrinivas]

very very detail explanation sir, with this we can easily file US stocks related return filing. Nice Explantion skills in simple English, Thank u so much sir. Will it be useful for filing current year FY.2023-24[AY.2024-25] also sir ??

[@cacskohli]

Thank you. I referred your video for my itf filing

[@beeaflame]

Thank you for your information ❤❤❤❤❤ Really helpful ❤

[@FinTaxPro]

My pleasure 😊

[@GurpreetSingh-bj6bm]

Thanks for making such detailed video on a complex topic, appreciate your efforts

[@unleashyourlaptop7172]

Thank you for such a detailed video on how to file

[@gauravgupta8166]

Thank you for sharing this detailed video. Appreciate your hard work. I have couple of questions: 1. Is Vested App account considered as custodian account per US model ? If yes, do we need to declare the account details in Table A2 of Schedule Foreign Assets of ITR? 2. How will details of Form 67, Schedule FSI and S-1042 match ? Schedule FSI - Need to show details for FY 2022-23 - Need to show both dividend & interest income S-1042 - has details of only Jan'22 - Dec'22 - has details of dividend income Form 67 - Need to show details for FY 2022-23 - Need to show dividend income only

[@you0vas]

Did you get an answer for this ? No CA is giving proper answer for this question.

[@fabulous1156]

I think for foreign income u need to declare income accrued for jan22 to dec22. With regards to foreign depository , it's better to declare it under schedule fa

[@you0vas]

@@fabulous1156 income earned from foreign dividend comes under other income. It doesn’t come under schedule FA.

[@jaimahakal8908]

Any answer about table A2 custodian account

[@gauravgupta8166]

@@jaimahakal8908 I had declared it in table A2 just to be on the safe side. It's better to declare more details since there is no harm in it

[@clevinmenezes8229]

Do I have to select all those schedules when filing I only have short term capital gain

[@vivektorcoy]

Thanks! Just what I was looking for.

[@nagasrinivasdonka3297]

Sir, this is very informative and of a great learning. Thank you

[@shishirgbhat94]

While computing the Capital gains, why did you consider the same USD-INR conversion rate for buying date and selling date?

[@pritibhandari6045]

Yes, iam also having the same question

[@MohitBisht-l1x]

Thank you sir this is much useful❤

[@Raj-h3b]

Great Video..Many Thanks..very helpful.

[@crazy_balaks]

Reach financial milestones with Appreciate. US stock trading without complications.

[@pavanguggilam5966]

WHAT CONVERSION RATE SHOULD BE USED FOR CONVERTING PURCHASES AND SALES WHILE CALCULATING CAPITAL GAINS? 13:27 MINUTES IN THIS VIDEO

[@esbeesri2303]

it is always SBI TT BUYING RATE. fOR PURCHASE AND SALES it should be SBI rates for the days of purchase or sale. For dividends only it should be SBI rate on the last day of the month prior to receipt of dividend.

[@prateekjain9262]

Your videos are so informative and practical .Good work ! Note : Instead of article no. you have put in sec no.

[@Hilee_9]

Thanks explained everything I was looking for

[@MadhuSandeep143]

Very useful video for Foreign Income

[@veekee112]

Hi! Sir can you please show how to upload schedule FA in income tax site if enteries are more..

[@toshiklangade]

Hi sir, I need some help. Can I simply ignore filling form 67? There is a very small amount for tax relief and I don't want the headache to fill the form. I have already submitted the ITR.

[@chikna135]

Thank you so much for this video, this clarified lots of doubts. I have one more doubt, its regarding the dividend, interest on vested RSU. Dividend and interest is kept in FDRRX after the 25% and same is shown in 1042-S. But this amount isn't transferred to the Indian Bank acount, do we need to show something? and whats the way here. Please suggest, can you also make a video on that.

[@abhishekvyas1049]

Can you please share an updated video after the new budget 2024?

[@AshishRanjan-c8l]

App for share market that actually helps you appreciate your investments.

[@dileep25]

Sir, From where you got these excel sheets having the entire summary for respective schedule?

[@indiagreat5585]

Sir this is extremely best

[@SiddharthJar]

Thanks a lot! Quite informative.

[@mayurkate2345]

If I have not transferred the dividend amount from the USA to the Indian bank account, Do I still have to file form-67?

[@teamitd3448]

Hello Sir, My total tax liability in India is currently zero. I have a Foreign Tax Credit of ₹13,122. While I understand that the FTC can reduce my tax liability, I am uncertain if it can be claimed as a refund. Can you please confirm whether this amount can be refunded, or if it remains non-refundable?

[@chartacchartac]

How to get form 1042 S from etrade for attaching with form 67 ?

[@munishkhanna]

Thanks for this informative video. This takes care of the information if the tax slab is 30%. In case when there is no tax liability and the total tax computed is Zero. In such cases, the corresponding tax payable in India on the Dividends would be mentioned as Zero instead of Rs.863 as in your case ( 34:44) so when no tax is payable in India, will this amount that is TDS in USA be refunded back ? Should this also show in the ITR computation of tax or it will work as a separate tax refund as it was not payable if this dividend income was earned in India.

[@deepikajain4277]

Sir I need your help regarding reporting foreign income for LRS Interactive Brokers

[@PushpendraKumar-bz1ii]

Appreciate app offers hassle-free US trading experience.

[@akshataggarwal3277]

i filled ITR2 but not form 67. What should i do? I filled all the schedule like FA, FSI in ITR for US stocks but not form 67.

[@lsribuy]

How to deal with the financial year conflict. For example dividend received in USA. We declare dividend received in USA Apr 2023-Mar 2024. But the certificate 2042-S is provided for Jan-Dec 2023. So the tax entry in form 67 for AY-2024-25 and Jan-Mar 2024 tax entries in 2042-S (Jan - Dec 2023) wouldn't be there

[@esbeesri2303]

Why should we subscribe when you do not asnwer even a single question

[@rahulrajendran6141]

REALLY HELPFUL SIR

[@sunilj10]

Why did you not put the break up of the dividend received - In section information about accrual receipt of income from other sources under section Dividend income taxable at DTAA rates, sl no 7. Also why did you not put dividend income under income chargeable at special rates ?

[@surbhisingh6556]

What if conversion rate not given in document..time :- 16:00

[@chisel9893]

Germany and india DTAA rate is 10 percent..if at germany 26 percent tax is cut...how much tax relief i will receive in itr in india- 10 or 26-10=16?

[@buntyverma5492]

Thank you sir for nice information

[@rajatjain4661]

Doesn't we need to file details of our foreign trading account (Demat Account) in Schedule FA Table A2?

[@BhaveshAgarwal]

First, thanks a lot for this informative video. Things which are not clear to me - 1. Schedule FSI - If I have been granted RSUs from my US employer as part of the salary and this is calculated as PERQUISITE INCOME, which is an Indian construct, will I need to fill up this schedule? I think no, but just wanted to confirm. 2. Where do we get these tax documents when my US broker's website (fidelity in my case) doesn't have it?

[@umeshhbhat]

you would only get the 1042s from the fidelity, rest you have to calculate manually on your own from the activity section on fidelity .

[@sukritgupta7372]

In case of RSU grant also, we need to fill schedule FA. We need to report every share in schedule FA which we held in previous calendar year ie CY 23.

[@zakimustafa5329]

Great Video! thanks for your time and help. Are not Foreign stocks supposed to be treated as unlisted equity shares? You selected 'NO' when asked about holding unlisted equity shares. Please elaborate. Thanks.

[@SanketBhat7]

Really good question, I was also wondering same. @FinTaxPro Please clarify, thanks

[@rohitnegi7454]

In my form 67 : my tax deduct is less than 25 percent.so I am confused if I mention tax mention in my 67 form or calculate it w.r.t 25 percent

[@RakeshSharma-bp6gk]

I have a doubt regarding LTCG. What if we are claiming full 54F deduction on LTCG from such sale. How to show that in FSI? Since the tax paid in India would also be 0 then since you claim a deduction. but if I fill Schedule FSI as soon as you add 20.8% value in column tax payable on such income in India, the value will get added to final Tax computation. How to solve this situation

[@user-zw5jz2lx6l]

I have a confusion here .. when we are calculating purchase Indian value of us shares.. we should be multiplying with the conversion rate from the date of purchase right? Not with the selling conversion rate.. am I right?

[@FinTaxPro]

We have to work as per reports. It is very complicated to find different exchange rates specifically when we have many transactions

[@highlights7324]

​@FinTaxPro so ind money doesn't provide with conversion rates as on that date so what should I do? There are around only 8-9 transactions

[@patelanupam1408]

Please batae koi ki kaha se download honge ye sab annexure of schedule. And RSU and ESPP ke case me kya hoga??

[@RSingh-]

Is this video relevant to AY 2024-25 as well OR have there been any changes?

[@krishnapodhili6913]

My client who is in employment under ABC Ltd-Belgium for last 3 months for the FY 2022-23, but i need to enter the correspondin INR converted salary under salary head in ITR-3 but in india my client worked as employee under XYZ ltd. My question is i am not allowed to add ABC ltd-Belgium in employer column because it is asking TAN number which they dont have. Can i enter the ABC Ltd-Belgium salary under ABC Ltd employer or else where to enter the foreign salary??

[@neethuthomas2385]

Thank you🙏🙏🙏

[@krishnapodhili6913]

Anyone can help me with the type of attachment which i need to submit in form 67, where my client is earning salary income in Belgium??

[@sanam409]

Hello, Thanks for detailed video. One query, if i am holding US stocks, but no selling ( no capital gain). In this case, i can skip schedule capital gain, right? And just declare schedule other source income for dividends ( both on US & india stocks) , schedule FA, Schedule TR, form 67 right?

[@leelakannan7277]

Really nice; against question regarding article of DTAA, section no of 90 is given. Am I correct? Very useful

[@martindaimari448]

How does the ITR2 filing differ in the case of RSUs that are given as part of compensation? And how is it different if the RSUs are held and not sold at all? How do we report them?

[@jacksonjulian5968]

Thankyou

[@krishnapodhili6913]

What should i need to enter under "Rate in %" where my client is earning salary income in Belgium and they don't have single rate but they are having slab rates ??

[@rammohanacharya]

Thank you soooooooooo much

[@modernlogix]

How is the usd to inr rate so low :-)

[@saipavan8970]

Thank you so much sir..

[@MiteshPatel-ns5jg]

Dear sir, Dont we have to mention Dividend income from US in Item 2 of OS (Charged at special rate) ?

[@sukritgupta7372]

All dividends including foreign dividend are taxable at normal slab rates in India. So no need to put it under Chargeable at special rates. You can claim relief for US tax by filing schedule FSI, TR and form 67. So your effective tax on foreign dividend will be : Tax as per normal tax slab - relief for double taxation

[@sachinsondhi5948]

W2 of US is upto Dec 2022, so can i claim TDS deducted on my salary of JFM of 2023 in my indian ITR

[@ssvid333]

17:50 one doubt Shouldn't the total amount of dividend RECEIVED in column D72:D78 (and converted to INR) be reported as the dividend income under income from other sources? rather than the total amount of NET dividend in column H72:H78 like you did (converted to INR and total 2323.58) Like if i have $100 as dividend and $25 is withheld in US, i get $75 credited, but while showing the dividend income shouldn't i show $100 (converted to INR) instead of $75 and claim $325 as foreign tax credit? 21:40 i mean amount in B27 (2878.95) should be shown as dividend income instead of amount in F27 (2323.58), you also enter this amount (2878.95) at 33:25 while filing form 67

[@toshiklangade]

I have the same doubts

[@bharathkeshav6175]

You are correct. You need to show gross dividend and not net.

[@prachishah5433]

I recd dividend on US stocks in feb 2023. Do i need to report it in ITR for Fy 22-23? If not then there is no need to fill Sch FSI & TR right?

[@mayank0904]

Thanks for the video. However, few things like TTBR and peak value of investment meaning are not explained.

[@veerbhadauria]

how did you get article number under DTAA?

[@prithiviraj4820]

Do we need to show dividends that are earned from jan 1 2023 to march 31 2023?

[@TheFaisal77]

For conversion from usd to INR, should we use TTBR, mid market rate I.e., for dividends. For capital gains again. Which rate type is to be applied

[@nitinbansal9436]

From where we can find ttbr rate

[@rajatjain5559]

For filing "Schedule FA" do we need to fill the stocks purchased from "Jan-Dec" period or also stocks from last year? Also, you have marked closing value of stocks as 0? Shouldn't it be closing value of the stock value for that financial year?

[@sukritgupta7372]

We need to mention all the stocks that we held in b/w Jan to Dec. Even if you had a share for single day and sold it next day. All stocks acquired in previous years also needs to be mentioned. Closing value is 0 for stocks which were sold before 31 Dec. If you retained share write closing value of share.

[@kasivisvanathanp]

can you make video ITR-2 WITH LONG TERM CAPITAL GAIN FOR US STOCKS.

[@Life_series]

Very valuable vedio

[@sacoelsenthil]

Can you share the same video from Etrade website ? How to get the tax details from Etrade

[@JP_Kumar]

If FSI is NIL. as I'm not sale any stock I don't need disclose this right

[@GameOfProblemSolving]

schedule FSI 20:00 schedule FA 27:40

[@pritibhandari6045]

How you got the report of foreign Holdings (Reported in FA schedule)

[@pritibhandari6045]

Iam waiting for the reply

[@nobelwolf7162]

Can you make video with investment in both Indian stock, us stock, intra day, salary income if possible????

[@888pranitraut2]

Sir, foreign STCG par 20% tax lagta hai na? Aapne under FSI Sch me slab rate par kaise liya?

[@pritibhandari6045]

20% if it is LTCG that too after indexation. For STCG it is as per slab rate

[@ganeshgupta9767]

Should we disclose dividend amount if it is in foreign account?

[@-tarunarya]

you have filled US divident in other sources divident under tax at normal rates, don't this should go under income chargable at special rates, as on US divident we have DTT benifits ? Please confirm.

[@sukritgupta7372]

@@-tarunarya All dividends including foreign dividend are taxable at normal slab rates in India. So no need to put it under Chargeable at special rates. You can claim relief for US tax by filing schedule FSI, TR and form 67. So your effective tax on foreign dividend will be : Tax as per normal tax slab - relief for double taxation

[@-tarunarya]

@@sukritgupta7372 thanks for sharing. But what I figured out, need to show usa dividend at both places. Other sources to pay tax as per tax slab and income chargeable at special rates, then only its getting minus in final calculations.

[@dsvp55]

Can my capital loss in us stock is adjusted in Short term capital gain in India