Reporting period for schedule FA and CG

Hi, I traded equity in US market and understand I need to file capital gains and schedule FA. But have one question regarding reporting period these two reports.
I noticed that as per Schedule FA (Foreign Assets) Disclosure in ITR - Learn by Quicko, for schedule FA, the reporting period is calendar year i.e. for AY 2024 it will be transactions done between Jan 2023 to Dec 2023. However for reporting capital gains, the reporting period per my understanding is financial year, i.e. for AY 2024 it will be all sales done from Apr 2023 to Mar 2024. Is this correct? Are reporting periods different for schedule FA and foreign capital gains? Can someone please confirm. Thank you. Venkat

Hi @vrrv101 ,

Reporting period for Schedule FA is Calendar Year (which is in line with the Year followed globally) and thus any Foreign asset held at any point time during the calendar year 2023 needs to be reported in Schedule-FA. However, for the purpose of Capital Gains you need to follow the Financial Year i.e., 01.04.2023 to 31.03.2024 and thus need to report all capital gains earned during the Financial Year in the ITR.

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Thank you for the confirmation