Reporting unlisted foreign company information in ITR-2 form
Could some experts help with my below queries with regard to filing FY2018-19 India tax returns (ITR-2 form)?
1. In General section (Other Details sub-section) of ITR-2 form, what should be the response (yes/no) to the questions "Whether you are Director in a company at any time during the previous year" and "Whether you have held unlisted shares at any time during the previous year" if the company was a foreign company? If the answer is 'Yes', then what should be entered in the "PAN" and "DIN" fields? In the ITR utility provided by the Income tax dept, it is mandatory to fill a 10 digit PAN and an 8 digit DIN but the company has no PAN or DIN since it is foreign.
2. I incorporated a company in USA in June 2017 and closed it 1.5 years later in December 2018. The company had no income or revenues during its 1.5 years of operations, and I reported an investment loss for this company in my personal 2018 US tax returns. Can this investment loss be reported in India tax returns? Would it be reported as a short-term or as a long-term capital loss? My resident status was ROR during this entire period.
Thanks in advance for your help!
