Declare income in foreign currency

513 views 2 replies

I earn income from USA and Europe citizens and the money is sent to my Bank Account in India through a employment managing company Freelancer.com, and I'm resident of India.... How do I declare this income in USD and Euro in new ITR 2 form as money gets converted to Indian Rupee and gets credited to my bank account here in India? Please help as I think the ITR 2 form is also asking for these kind of details...

Replies (2)

Can someone answer this Query of mine posted above?

I maybe wrong here and maybe assuming few things like you have bank account abroad.

In the ITR2 utility there is a excel sheet for declaring Foreign Assets. In that you can declare your bank accounts you hold that are located in USA and Europe. Then in the same table you can add the amount of the peak balance in that account. Lastly you can see columns for the amount to be considered for computing income during the financial year. There you can mention the amount.

Disclaimer: Please take the above advice with a pinch of salt as I am not a legal tax professional. Please consult a CA or Chartered Accountant.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
25 June 2026
Accounts & Taxation Executive

Dindukurthy & Associates

Hyderabad

MBA

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 27 June 2026
CA Articled Trainee And Paid Assistant

SKAA & Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
2 posts Article assistant and Articleship completed students

Chirag N Shah & Associates

Mumbai

CA Inter

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details