US Stocks From India

TCS, Tax & Schedule FA

Fact, source, legal, tax, financial, and compliance verification

•  Re-confirm current TCS rate and 10 lakh threshold for LRS remittances (other-than-education/medical purpose) against the applicable FY immediately before recording.
   
•  Reconfirm the USD 250,000 LRS limit is still current for the recording FY.
•  Reconfirm capital-gains computation rules and rates applicable to the exact AY being discussed — do not record with a placeholder rate left unresolved.
   
•  Reconfirm the 20 lakh / 10 lakh Black Money Act penalty figures (Sections 42/43) and the 7-year imprisonment provision against current law.
   
•  Reconfirm Schedule FA table structure (A1–D) and A3 field requirements against the notified ITR forms/instructions for the relevant AY.
   
•  Reconfirm the Schedule FA calendar-year (1 Jan–31 Dec) reporting-period rule for the relevant AY's instructions.
   
•  Reconfirm ITR-1/ITR-4 foreign-asset restrictions for the current AY (used AY 2026-27 in research; confirm still current at recording time).
   
•  Reconfirm Form 67 / Rule 128 FTC filing process and requirements.
   
•  Cite RBI (rbi.org.in) and Income Tax Department (incometax.gov.in) sources in the video description per the source list already compiled in the research brief.
   
•  Have a tax professional (in addition to the presenter) review the final script specifically for the 20 lakh and 7-year segments before recording.