14 January 2021
Sir/madam, if any IT professional earned income from outside india by providing services like as a freelancer...then Is it mandatory to disclose that income under "Schedule FSI - Details of Income from outside India and tax relief(available only in case of resident)" in ITR-3?
14 January 2021
Sir if we don't disclose it under Schedule FSI then will it not come under black money act....or any penalty leviable under income tax act?
14 January 2021
You have to disclose the foreign income under business and professional income and pay appropriate tax even it is foreign source of income. To claim relief only filling FSI schedule required.
CAclubindia
