What foreign-asset records should Indian residents keep after buying US shares?
Our answer
Save broker statements, contract notes, remittance confirmations, dividends and sale records. Review the Indian tax department’s foreign-asset guidance for your filing status and the relevant year. Ask a tax professional how residency, reporting, foreign withholding and any applicable credits affect your return.
Transaction records
Keep dates, quantities, currency amounts and the exchange-rate basis used for reporting. Retain evidence of taxes withheld.
Before filing
Use the current official instructions for the return you need. Reporting requirements can depend on residence and account ownership.