Schedule FA explained, with the SBI TT buying rate

A resident and ordinarily resident individual reports every foreign asset held at any time in the calendar year in Schedule FA. Values are reported in rupees at the SBI telegraphic transfer (TT) buying rate. Convert an amount below.

Rules: SBI TT buying rates synced daily

Result

Fill in your numbers and press Calculate. The answer shows the formula and the rules it used.

Signed in, INDYXQUANT builds Table A3 row by row from your foreign lots: initial, peak and closing values at the SBI rate of each day.

Do this with your real portfolio

Who files Schedule FA

Every resident and ordinarily resident individual who held a foreign asset at any time in the calendar year (1 January to 31 December) files Schedule FA with ITR-2 or ITR-3, even with no income from it. The return for tax year 2025-26 reports calendar year 2025.

Foreign shares and ETFs (for example US stocks through an Indian broker or employer RSUs) go in Table A3: initial value, peak value during the year, closing value, gross dividends and gross sale proceeds.

Black Money Act: from 1 October 2024 the section 43 penalty does not apply when undisclosed foreign assets other than immovable property total 20 lakh rupees or less, but disclosure is still required at any value.

Which rupee rate to use

Indian tax converts foreign amounts at the SBI TT buying rate, never the market USD/INR rate (Rule 115 of the Income-tax Rules 1962, Rule 206 of the 2026 Rules).

For capital gains and for dividends, the rate is the one on the last day of the month before the sale or before the income arose. Schedule FA values use the rate on the date of the value itself.

When SBI published no rate on a date (a weekend or bank holiday) the last earlier rate is used. A date after the newest stored rate is reported as not available, never estimated.

Questions

Do I need to report foreign stocks if I had no income from them?

Yes. A resident and ordinarily resident individual reports every foreign asset held at any time in the calendar year, whatever its value and whether or not it earned income.

Which exchange rate is used for Schedule FA?

The SBI telegraphic transfer buying rate. For capital gains and income it is the rate on the last day of the month before the transfer or income.

Which calendar year does Schedule FA cover?

The calendar year ending in the tax year: the return for tax year 2025-26 (assessment year 2026-27) reports holdings from 1 January to 31 December 2025.

Sources

Rules: SBI TT buying rates synced daily. This page is for education and is not tax, legal or investment advice.