Guides
How US stocks are actually reported in an Indian tax return — the schedules, the conversion rules, and the broker mechanics. Written for people filing with an Interactive Brokers account, useful well beyond it.
General information, not tax advice — review your filing with your CA.
US stocks in your Indian ITR: the complete map
One US brokerage account touches an Indian tax return in four places: Schedule FA disclosure, capital gains, dividend income, and foreign tax credit. The full map, in order.
9 min read
Schedule FA for Interactive Brokers, step by step
How to fill Schedule FA Tables A3 and A2 from an IBKR account: the calendar-year rule, lot-level rows, initial and peak value, and reporting the brokerage account itself.
8 min read
Why IBKR's activity statement isn't enough for Indian tax filing
The default IBKR activity statement is missing the lot dates, account details and cash history that Schedule FA needs. What a Flex Query is and why it's the right export.
6 min read
Peak value in Schedule FA: how it's actually computed
Peak value is the highest INR value during the calendar year — daily price × quantity × that day's SBI TT buying rate, per lot. Why the USD peak is often the wrong day.
6 min read
Rule 115 and the SBI TT buying rate, explained
Rule 115 converts foreign income at SBI's telegraphic transfer buying rate on the last day of the month before the income arose. What that means for dividends, interest and capital gains.
7 min read
Claiming foreign tax credit on US dividends: Form 67, FSI and TR
Your US broker withholds 25–30% tax on dividends and India taxes the same income again. How the DTAA credit works, and why Form 67 must be filed before the return.
8 min read
Why your AIS doesn't match your IBKR statement
Your AIS shows the money you sent abroad, not what it bought. Why foreign holdings, dividends and gains are missing by design, and what you still have to report yourself.
7 min read
IBKR's activity statement, section by section
What each section of an Interactive Brokers activity statement contains, which Indian tax figures it can support, and the two places it runs out of detail.
7 min read
Lot matching vs. FIFO: why it changes your capital gains
IBKR's default is FIFO, but it doesn't have to be. Why which lot a sale is matched against changes your capital gains, your holding period, and Schedule FA — and when Flex Query and Activity Statement mode disagree.
7 min read
Common mistakes when filing ITR for US stocks
The wrong ITR form, the wrong holding period, the wrong year, the wrong exchange rate. Eight mistakes that turn a foreign brokerage account into a filing problem.
8 min read
The US estate tax nobody told you about when you bought US stocks
Indian residents holding US stocks face US estate tax above just $60,000 — at up to 40%. India has no estate tax treaty with the US. What's exposed, what isn't, and what people do about it.
8 min read
Who actually has to file Schedule FA
Schedule FA applies only if you're Resident and Ordinarily Resident. How the 182-day and 60+365-day tests work, what makes you RNOR, and why there's no minimum value threshold.
7 min read
Capital gains on US stocks: the 24-month rule nobody expects
US stocks are “unlisted shares” for Indian tax — 24-month holding period, 12.5% LTCG with no indexation, and no ₹1.25 lakh exemption. How Schedule CG actually works for a foreign brokerage account.
8 min read
Foreign dividends in Schedule OS: rate, quarter, and gross
US dividends are taxed at your slab rate under Income from Other Sources — reported gross, converted at the preceding month-end SBI rate, and split across five quarters for advance tax.
7 min read