Purchase of foreign currency in TIS report

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This discussion addresses how to handle foreign currency purchases appearing on a Taxpayer Information Summary (TIS) report. If the currency was bought for personal use, such as a family member's travel, it generally doesn't need to be declared in your Income Tax Return (ITR). While no specific action is required for the TIS entry itself, it's advisable to maintain records of the income source used for the purchase.

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(Querist)
01 July 2024 Taxpayers Information Summary(TIS) for (Rs 189000) shows a entry of foreign currency purchase on portal. My client purchase currency for his brother foreign travel.
what to do with such a entry? Need to show in ITR If Yes where?????
regards
Vikas
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
02 July 2024 Not possible to declare it in ITR, if personal expenditure.
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VIKAS KUMAR SHARMA

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VIKAS KUMAR SHARMA (Querist)
02 July 2024 thanks for your prompt reply SIR!
what to do with that entry? or avoid
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
02 July 2024 As such no action required. Just keep the records of the income source for the amount spent.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
28 August 2024 Good luck.
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