Zero-Retention Diagnostic Sandbox • Black Money Act 2015 & ITR Codex • DPDP Act 2023 Compliant

Schedule FA Foreign Asset & Black Money Act Risk Evaluator

A diagnostic compliance screening engine for Corporate CXOs, Tech Executives, and Global Investors: audit your overseas depository accounts, vested NASDAQ/NYSE RSUs, ESPPs, and foreign custodial broker holdings against ITR Schedule FA and Sections 42 & 43 of the Black Money Act, 2015. Computes statutory reporting thresholds, peak balance liabilities, and flat penalty exposures in-browser.

100% Client-Side Computation: Zero asset details or personal financial data are transmitted to our servers. Computation executes entirely in your browser in compliance with the Digital Personal Data Protection (DPDP) Act, 2023.

Foreign Asset Holdings & Filing History

1. Residential Status for the Assessment Year (Section 6)

Schedule FA disclosure is legally mandatory ONLY for taxpayers qualifying as ROR in India.

2. Overseas Bank / Depository Accounts (Table A1)

3. Foreign Custodial Broker Accounts (Table A2)

4. Vested Foreign Equity / RSUs / Direct Shares (Table A3)

Common Trap: Many executives assume that employer Form 16 TDS satisfies Schedule FA. Under law, Schedule FA is an independent disclosure requirement!

5. Unvested Stock Options / Foreign Financial Interest (Table B)

6. Number of Assessment Years with Unreported Foreign Assets

Section 43 penalty of ₹10,00,000 applies per assessment year for each failure to furnish information.

Diagnostic Verdict Low Exposure

Section 43 Statutory Penalty Risk

₹0

Flat penalty under Black Money Act, 2015

Statutory Reporting Mandate: Exempt (RNOR/NR)

Limitation Period for Reassessment: 16 Years (Black Money Act)

Form 16 TDS Protection: Does NOT Shield Schedule FA

Judicial Relief Precedent: Nirmal Kumar Bathwal (ITAT)

Select your filing details to compute Schedule FA compliance exposure and statutory mitigation steps.

Request Air-Gapped Schedule FA Audit

Black Money Act Statutory Invariants

• Strict Liability: Section 43 penalizes non-furnishing of information irrespective of whether taxable income was concealed.
• 16-Year Window: Foreign asset notices can be issued up to 16 years from the end of the assessment year.
• Peak Balance Rule: Assets must be converted at the SBI TT Buying Rate on the date of peak balance during the calendar year.