Schedule FSI: Foreign Income in India ITR
Schedule FSI line-by-line for returnees: country code, income head, tax paid abroad, and linkage to Schedule TR + Form 67.
The 60-second version
Schedule FSI is the foreign-income ledger in ITR-2/ITR-3 — one row per country per income type, matched to Schedule TR and Form 67 before e-verify.
FSI is not Schedule FA — income vs balance sheet
Schedule FSI reports foreign-source income and tax paid abroad; Schedule FA reports foreign assets and accounts.
ITR-1 cannot carry FSI — returning NRIs with foreign salary in RNOR year need ITR-2 minimum.
Link to Schedule TR guide for treaty relief rows.
FSI fields
| Field | Source doc | Common error |
|---|---|---|
| Country code | W-2 / SA302 | Wrong ISO code |
| Income head | Broker 1099 | Mixing cap gains + dividend |
| Tax paid abroad | IRS transcript | Using withheld not final |
| DTAA article | Treaty text | Wrong article for dividends |
FSI filing order
Gather foreign slips
W-2, 1099, SA302, T4.
Map income head
Salary vs OS vs CG.
Enter FSI rows
Per country per head.
Schedule TR
Treaty rate applied.
Form 67 upload
Before ITR submit.
Flow
FSI kit
- Foreign tax returns.
- Form 67 JSON.
- TRC if required.
- FX rate FY average.
- CA reconciliation.
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RNOR year still file FSI
Even exempt foreign income may need disclosure in FSI for transparency — CA practice varies; do not leave blank without advice.
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ITR-1 eligible?
No — foreign income requires ITR-2 or ITR-3.
RNOR exempt income?
May still appear in FSI with nil tax in India — confirm with CA.
vs Schedule FA?
FA is asset schedule; FSI is income schedule — both can apply same year.
Form 67 timing?
Upload before or with ITR — late Form 67 blocks DTAA credit.
US state tax?
Include in tax paid abroad column if creditable.
Multi-country?
Separate FSI row per country per income head.
Your tax year is already running.
RNOR status, exit timing, and DTAA benefits all depend on decisions you make before you land. Don't guess.