FCNR DEPOSIT INTEREST EARNED REPORTING IN ITR

@ Sudhir Vardhan

An NRI can no longer use ITR-1 Form from last two or three years.

ITR-2 has to be used.

For AY2025-26, ITR-2 form is still not available, so you will need to wait.

Ranjan 

Thanks for the response. 

However my question on FCNR deposit Interest still needs clarity.

@ Sudhir Vardhan

You have to wait for the ITR-2 form for AY25-26 to be released.

It is very difficult to tell in advance, by anyone, what new reporting format would come in the form.  

Regarding time available for filing ITR-2 for AY25-26, that also is  a huge mystery since only ITR-1 and ITR-4 filing date has been extended.

I have similar question.

My sister is an NRI. I do her taxes in India and file ITR3.

Question is that is it required to declare in the ITR

1. The existence of her account
2. The balance in this account
3. The interest earned as on date

@ JJJ

As far as I am aware, there is no legal requirement for disclosing details of NRE and FCNRB accounts in Income Tax Return since these are supposed to be external accounts and not coming under Indian Income Tax system.

However, NRO account interest income and TDS etc are to be declared.

For your sister's return: NRE/FCNR interest is exempt for a non-resident (Sec 10(4)(ii) / 10(15)(iv)(fa)) and is shown in Schedule EI, and the ITR's bank schedule asks for all Indian bank accounts held during the year (other than dormant ones), so the NRE account should be listed – balances aren't required; use ITR-2/3, not ITR-1.