Mandatory disclosure: Reporting foreign ESPP holdings in schedule FA

Mandatory disclosure: Reporting foreign ESPP holdings in schedule FA

As your employer had disclosed the income from exercise of the ESPP, you would be owning the shares listed overseas. Therefore, you would need to disclose such shares in Schedule FA (foreign assets) of your income tax return.   Any asset owned overseas by a resident (other than a not ordinarily resident, or NOR) must be … Read more

Navigating Esop reporting rules for Indian subsidiaries of foreign MNCs

Navigating Esop reporting rules for Indian subsidiaries of foreign MNCs

If a foreign company offers stock options to employees of an Indian company, the domestic firm must report any future transactions involving these shares to the Reserve Bank of India (RBI), despite not being directly involved. The connection is that those receiving these employee stock ownership plans (Esops) and restricted stock units (RSUs) are residents … Read more