FAST-DS for RSUs vested in 2021 still holding them. Please advise what to do.
I hold US company RSUs vested from my previous organization which I left in 2021 Oct. RSUs vested was shown as Salary income in the year vested and I used to pay tax on them. I was not aware that we are also supposed to declare it as FA while submitting ITR.
Last year I got a notice to refile ITR with details of FA that are there in my name, so re-filed the ITR. This year also I filed the details of my US stocks holding. I do not have any other FA other than these stocks which vested.
Looks like even though there is no shares vested after I left the organization, every year around $40 dollars is added as dividend and after tax withhold of 30% by morganstanley rest were re-invested into the shares.
few days back I got a Advisory saying "Important Advisory: Opportunity for Voluntary Compliance regarding Foreign Assets (FAST-DS, 2026)" came from Income Tax dept.
I Looked in AIS and found that there is 40$ FA dividend being shown roughly around Rs3000. for the years 2022,23,&24.
I was reading lot of articles and they are saying that I need to file FAST-DS under category and pay a fees of Rs 1Lakh. I am confused what to do.
Please suggest.