Indian Compliance & Tax

Do I have to report foreign crypto holdings in Schedule FA?

Schedule FA is the section of the Indian income tax return where a resident discloses foreign assets, and crypto held on offshore exchanges or foreign wallets is generally expected to be reported there. The duty applies to residents and ordinarily residents regardless of whether the asset produced any income during the year. For example, holding Bitcoin on a non-Indian exchange would typically be disclosed in Schedule FA even if you never sold it. Non-disclosure can attract penalties under black-money rules, so accurate reporting matters. Treatment can be nuanced, so confirm specifics with a tax professional.

This is general information, not tax advice. Tax rules change and depend on your individual circumstances — verify the current rules or consult a qualified tax professional before acting.