Foreign Investments

An Person of Indian origin, who is having US citizenship,  has after working in Canada and USA for many years, has not settled in India and is residing in India for more than 15 years and his status as per Section 6 of Income tax act is Resident and Ordinary resident.  He is filing regular return in India with respect to his Indian income and He is also filing return in USA with respect to his income in mutual fund, investments etc derived in USA.  He has never shown his investment held in USA in ITR - Schedule FA. So…

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