Foreign asset valuation requires category-based fair market value, anti-double-counting adjustments, and prescribed foreign-currency conversion methods.

Foreign assets are valued by category, generally at the higher of acquisition cost and open-market value on the valuation date. Indexed acquisition cost applies where the required open-market valuation is not obtained. Quoted securities use market prices, while unquoted equity shares use an adjusted net-asset-value formula. Bank accounts are valued by cumulative deposits, subject to exclusions for redeposited withdrawals and previously declared deposits. Values are adjusted to prevent double counting where proceeds or withdrawals fund new assets, and foreign-currency values are converted into Indian currency using prescribed valuation-date exchange rates.

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