1. What is the relevant accounting period’ for reporting of foreign assets – accounting period as applicable to a foreign country

2. How to opt for a lower tax regime of 22% or 15% – by filing Form No. 10-IC or Form No. 10-ID with a return, it is not reversible

3. For high taxpayers, at what value are assets and liabilities to be reported – Cost & if the gifted or inherited cost of the previous owner

4. For NR if TIN is not allotted – provide passport number

5. Can I rectify this multiple times – yes but only after the first one is processed

6. the Last date of E verification of any return is 30 September 2020

7. Can invalid return corrected – apply CBDT for condonation of delay

8. For 44AD, 6% deemed profit is available only if credit sales proceeds are received by return filing due date

9. While reporting capital gain script-wise details mentioned are mandatory – NO

10. Can NR get a refund in a foreign bank account – Yes