Declaration of Bank Accounts in India of an NRI for tax filing

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Non-Resident Indians (NRIs) are required to declare all their bank accounts in India when filing their income tax returns. This includes both NRO and NRE accounts. The declaration needs to be made within the Income Tax Return (ITR) form itself, ensuring all financial activities are transparently reported to the tax authorities.

Proloy Samaradivakera

Proloy Samaradivakera (Querist)
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06 July 2023 As per requirement from IT all bank account details need to be disclosed while filing IT return.
For an NRI - NRO account details are declared as all income etc in INR gets into this account.
Is it also a must to declare NRE account details also ?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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06 July 2023 Yes, all the bank accounts including NRE acc in India needs to be declared.

Proloy Samaradivakera

Proloy Samaradivakera (Querist)
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06 July 2023 OK. I need to enter the NRE account details in MyBank under the profile section. While entering the NRE account details these options are available to define the account type : 1) Current Account 2) Savings 3) NRO A/C 4) Cash Credit Account 5) Over Draft A/C. What option will I choose for entering an NRE account ?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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06 July 2023 The declaration is required to be made in ITR form..

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