Income Tax dept eases ITR filing norms for NRIs
CBDT says NRIs will not have to give foreign bank account details when filing their income tax returns (ITR), provided they are not seeking refunds
New Delhi: The government on Monday clarified that disclosing foreign bank account details is optional for non-residents filing tax returns in India as the requirement is only meant to facilitate direct bank credit of their tax refunds.
Central Board of Direct Taxes (CBDT), the apex policymaking body dealing with direct taxes, clarified that after processing tax returns, refunds are credited directly to the bank accounts of taxpayers, for which mentioning bank details in the return is a precondition. Return forms for financial year 2016-17, to be filed in the current financial year, were notified on 30 March, 2017.
“A number of representations were received from the non-residents that they are facing difficulties in getting refund as they do not have bank account in India and there is no column in the notified form of return of income for reporting details of foreign bank account for this purpose,” said a statement from CBDT.
It added that in view of these requests, a facility was provided in the return-filing utility for reporting details of bank accounts by non-residents who do not have a bank account in India but seek to claim income-tax refund.
Non-residents who are either not claiming refund or have a bank account in India are not required to furnish details of their foreign bank account, the statement clarified.
“Non-residents claiming income-tax refund without having bank account in India may, at their option, furnish the details of one foreign bank account in the return of income for issuance of refund,” it said.
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