How to report foreign stocks in your income tax returns
It is mandatory to disclose your foreign stocks, dividends received in the income tax returns
Had you bought Apple stocks instead of an iPhone, you would have become a millionaire by now". That’s how the internet sells financial advice and it would have most likely enticed many investors to buy shares of Apple or other foreign firms. Did they become millionaires? We are not sure about that. What is for sure is that the taxman considers all of them to be owners of foreign assets.