How To Find US Stocks Tax Reports on INDmoney for Income Tax Return Filing?

If you invest in US stocks from India, chances are you’ve had at least one moment during tax season where you wondered, “Where do I even start?” You are not alone. A lot of investors are comfortable buying US stocks from India but feel lost when it comes to finding tax reports and filing the income tax return correctly.

The good part is that once you know where your reports sit and what each one is meant for, the process becomes far less intimidating. This article breaks it all down in a straightforward, everyday way so you can get your US investment tax reports on INDmoney without any hassle.

How to Find US Stocks Tax Reports on INDmoney?

All your US stock tax documents are available inside the INDmoney app, and you do not need to jump through multiple menus to find them.

One simple way is through your US Stocks account. Open the INDmoney app, go to the US Stocks section  and click on “Wallet Balance”.

Scroll down a bit. You will see a section labelled “Tax Documents”. This is where everything related to your US stock taxes is stored.

Another way is through your profile. Tap on your profile picture, scroll down, and click on “Tax Report”. Under the US Stocks section, the same set of reports will appear. Both routes lead to the same documents, so use whichever feels easier.

Below is a detailed explanation about all the income tax documents that you may need to file your ITR.

Capital Gains Tax: The starting point for income tax filing

The Capital Gains Statement is usually the first document you should look at. It shows what happened when you sold US stocks during the year.

In simple terms, if you sold a stock for more than what you bought it for, that difference is your gain. If you sold it for less, that is a loss. This statement lists all such transactions clearly, saving you from doing your own maths.

For Indian tax filing, how long you held the stock matters. If you sold a stock within 24 months of buying it, the gain is treated as short-term and taxed according to your income slab. If you held it for 24 months or more, it is treated as long-term and taxed at 12.5 percent. These details are later reported in your income tax return under foreign income.

Form 67: Avoid Paying Income Tax Twice!

Many first-time investors miss this step.

When US companies pay dividends, they usually deduct 25% tax before crediting the money to your account. So even before the money reaches you, some tax has already been paid in the US.

Form 67 is what allows you to tell the Indian tax department about this. By filing it, you can claim credit for the tax already deducted overseas. This helps prevent double taxation and can reduce your final tax outgo in India. Filing Form 67 on time also plays a role in ensuring you receive the correct income tax refund, if one is due.

Schedule FSI: Reporting Income Earned Abroad

Schedule FSI is used to report income that comes from outside India. For US stock investors, this usually includes capital gains and dividends.

Even if the amount earned is small, it still needs to be reported. All figures must be converted into Indian rupees using the correct exchange rate. Your Capital Gains Statement helps here because it already organises the information in one place.

This schedule directly feeds into your income tax return calculation, so it is important that the numbers match your reports.

Schedule TR: Claiming relief for foreign taxes

Schedule TR works closely with Form 67. This is where you mention the tax relief you are claiming in India for taxes paid in the US. For example, if dividend tax was deducted by a US company, that amount is mentioned here so it can be adjusted against your Indian tax liability. If this step is skipped or filled incorrectly, your foreign tax credit may not be considered.

Schedule FA: Declaring your US stock holdings

This is the part many investors are surprised by. Even if you did not sell any US stocks and did not make any gains, you still need to disclose that you hold foreign assets. Schedule FA is where you declare details such as the stock name, number of shares, and their value in INR.

This disclosure is mandatory for Indian residents. Not reporting foreign assets can lead to penalties, even if no tax is payable.

Which Income Tax Return Form Should You Use?

The income tax return form depends on your income sources.

• If your income includes salary, bank interest, dividends, or capital gains from US stocks, you should file ITR-2.
• If you earn income from a business or profession along with US stock investments, ITR-3 is applicable.
• Both ITR-2 and ITR-3 include sections to report foreign income and foreign assets.

Selecting the correct form is important to ensure proper disclosure and avoid issues during tax processing.

The Bottom Line: Why Proper Income Tax Reporting Matters

Reporting US stock investments in your income tax return is not optional. Even if you made no profit, disclosure is still required under Indian tax laws. Having all your tax reports in one place makes the process much smoother. 

INDmoney’s reports help reduce errors, save time, and remove much of the confusion that usually comes with foreign investment taxation. With accurate reporting and timely filing, you stay compliant and avoid unnecessary issues later on.

Disclaimer:

The content is meant for education and general information purposes only. Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Past performance is not indicative of future returns. The securities quoted are exemplary and are not a recommendation. This in no way is to be construed as financial advice or a recommendation to invest in any specific stock or financial instrument. Readers are encouraged to verify the exact numbers and financial data from official sources such as company filings, earnings reports, and financial news platforms and to conduct their own research, and consult with a registered financial advisor before making any investment decisions. All disputes in relation to the content would not have access to an exchange investor redressal forum or arbitration mechanism. INDmoney Global (IFSC) Private Limited, Registered office address: Office No. 507, 5th Floor, Pragya II, Block 15-C1, Zone-1, Road No. 11, Processing Area, GIFT SEZ, GIFT City, Gandhinagar – 382355.