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Can we get income tax refund in foreign bank account

Abhay Salunkhe (32 Points)

17 February 2023

Can I get income tax refund in foreign bank account.

If the answer is yes what is the procedure for claiming the refund in foreign bank account.

Can anyone help me in this matter.

Thanks

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4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 17 February 2023

For NRIs it is possible, if the assessee doesn't have any account with Indian Bank.

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 17 February 2023

Same is allowed no special procedure.

The details that have to be given for refund in foreign bank account is: international bank account number (IBAN) or SWIFT code of the bank, name of the bank, country of location and account number

1 Like

Manoj BG (Tax Professional and in Service) (1795 Points)
Replied 18 February 2023

From last 2-3 years, tax department modified forms to incorporate foreign bank account details for receiving refund in case of non-resident assessee. However practically, they haven't processed any such refunds as I found in all of my client cases.

When inquired, they suggest me to open bank account in India and then get it repatriate to foreign bank account. Many bank's has the facility to open temporary bank account for receiving income tax refund which can be closed after repatriation of refund.

Regards,

Manoj

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Chandrasekaran K (Engineer) (27 Points)
Replied 22 April 2023

Manojji,

How can an NRI with a PAN Card (no aadhar) open a temporary account for tax refund? Bangalore IT helpdesk told me I can open virtual account for tax refund and then close the account after moving the money. But no bank has any information on how an NRI can do this. Suggest some bank names as well as any link available.

Thanks

Many bank's has the facility to open temporary bank account for receiving income tax refund which can be closed after repatriation of refund.

Read more at: https://www.caclubindia.com/forum/can-we-get-income-tax-refund-in-foreign-bank-account-597068.asp#reply

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