For the financial year 2025-26, Indian taxpayers must be aware of Schedule FA in their Income Tax Return (ITR), which requires disclosure of foreign assets. This includes investments in foreign stocks, exchange-traded funds (ETFs), overseas bank accounts, and more. Schedule FA is applicable to individuals classified as 'Resident and Ordinarily Resident' (ROR) under Indian tax laws. Even small investments, such as a single share of a US-listed company, must be reported. Taxpayers need to provide information such as the country of the asset, nature, peak value during the year, and income generated. Notably, non-disclosure can attract significant penalties under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, and serious cases may lead to prosecution. The rise in overseas investments by Indian retail investors has been notable, facilitated by fintech platforms that allow easy access to international markets.