r/IndiaTax•
bringmeback0

CA used financial year instead of accounting/calendar year in Schedule FA

I get RSUs from my US employer in March and I typically sell them immediately within March itself. Payroll team takes care of selling required stocks to cover for tax, declares the whole value and tax deducted values in the Form 16 as perquisites. Any small capital gain/loss within few days between vesting and sale of stocks credited after sell to covered are declared as well.

In schedule FA, my CA has been declaring values under D. Sub section. However I noticed that he has been using the financial year to declare while the schedule called out for calendar year. So for ex. Stocks received and sold in March 2024 are entered in AY2024-25/FY2023-24 return, butbthe schedule FA says he needed to enter assets during calendar year ending on 31st Dec 2023., another not till 31st March 2024.

This has been going on for last 4-5 years.

What is the recommendation from the CAs here? Should I get all returns for last few years corrected (if that is even possible)?

Or leave old ones as it is and this year onwards use calendar year for schedule FA?

Or use FY again for this year's ITR schedule FA?

Posted Aug 3, 2025, 2:58 PM UTC

08
Loading comments…