NRIs Don't Need To Give Account Details If Not Seeking Refunds

Posted By:
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    The non-resident Indians will not have to give details of their bank accounts held outside the country while filing their income tax returns if they are not seeking refunds, the CBDT said. Do NRIs Need Aadhaar Card To File Tax Returns?

    "It (providing details of foreign bank accounts) is not mandatory. It is optional. It is for cases where the refund is sought," CBDT Chairman Sushil Chandra told reporters on the sidelines of an event to celebrate the 157th Income Tax day here.

    The department's top boss said this when asked to clarify if it was mandatory for Non-Resident Indians (NRIs) to provide the details of their foreign bank accounts in certain return forms like the ITR-2.

    NRIs Don't Need To Give Account Details If Not Seeking Refunds

    That column in the income tax returns (ITRs), Chandra said, is to be filed in "only one condition, that is, if they (NRIs) are seeking a refund."

    The Central Board of Direct Taxes (policy-making body for the I-T Department) had brought out new ITRs on March 31 this year and a newly introduced column in the ITR-2 seeks "details of foreign bank accounts held (including any beneficial interest) at any time during the previous year" from the assessee or the filer. Do NRIs Need To Have A PAN Card?

    The last date for filing ITRs for AY 2017-18 is July 31.

    Goodreturns.in 

    Read more about: nri tax return
    Story first published: Tuesday, July 25, 2017, 10:41 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more