Archive · 31 Jul 2026
Tech Professional Resolves Foreign Asset Tax Notice with Expert Help
Siva is a software engineer who got a notice from the Indian tax office because some of his foreign stocks weren’t reported correctly.
He thought his company’s tax deduction was enough, but the notice said more information was needed.
He asked a tax expert from ClearTax for help.
The expert fixed the dates and added the foreign dividend money he had earned.
He also filed a form to get credit for taxes already paid abroad.
The tax office accepted the new paperwork and closed the notice without any fines.
The story shows that even if a company takes out tax, you still need to report foreign assets correctly and claim any foreign tax credit.
Siva, a senior software engineer, received a tax notice for foreign assets.
The notice was caused by mismatched reporting periods and omitted foreign dividend income.
ClearTax consultant CA Divya Aggarwal updated Schedule FA to calendar-year dates and filed Form 67 for foreign tax credit.
Revised filings were accepted, closing the notice without penalties.
Key lessons: employer tax deduction is insufficient, use calendar-year reporting, and claim foreign tax credit.
- Who
- Siva, a senior software engineer
- What
- resolved a tax notice regarding foreign assets
- When
- recently, after receiving the notice
- Where
- India, Income Tax Department
- Why
- mismatched reporting periods and omitted foreign dividend income
- Tax Notice Type
- Schedule FA
- Tax Authority
- Income Tax Department of India
- Consultant
- CA Divya Aggarwal
- Form Filed
- Form 67
- Outcome
- Notice closed, no penalties