How to Report Income Tax Returns in FA Schedule and AL

In case of employees whose total income is more than 50 lakhs, they have to report at both the places. FA schedule details have to be filled in on a calendar year basis. The term what has been used is any overseas assets which is held at any time during the year. It's not just reporting only if something remains at the end of the year,. Even if a transaction happens during the course of the year, they are supposed to report it.