As per the instructions to ITR forms, financial interest would include, but is not limited to, any of the following cases:
(a) The resident assessee is the owner of record or holder of legal title of any financial account, irrespective of whether he is a beneficiary or not; or
(b) The owner of record or holder of the title in one of the following:
An agent, nominee, attorney, or a person acting in some other capacity on behalf of the resident assessee with respect to the entity;
A corporation in which the resident assessee owns, directly or indirectly, any share or voting power;
A partnership in which the resident assessee owns, directly or indirectly, an interest in partnership profits or an interest in partnership capital;
A trust of which the resident assessee has beneficial or ownership interest; or
Any other entity in which the resident assessee owns, directly or indirectly, any voting power, equity interest or assets or interest in profits.