Dear sir/mam
Is it compulsory to show foreign currency Remmitance in ITR.
means fee paid to other country for child education etc.
and if yes then where to show sir.. thank you sir.
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Foreign currency remmitance
Replies (5)
Quick Summary
Pls post dates and actual amount.
Sir paid 18 lakh in FY 22-23 in two parts one in april 22 and second in March 23 .. TCS paid
Just type foot note in ITR Return form.
Sir which ITR is to be filed ITR 1 or any other as individual is a salaried person
Foreign remittances in the ITR:
• Outward remittances (e.g. fees paid abroad, LRS remittances for education or travel) aren't income or deductions, so they don't need to be shown in the ITR. Claim any TCS collected on them (Schedule TCS).
• If remitted for investments (foreign shares or property), report the assets in Schedule FA (if resident).
• Inward remittances (gifts or income from abroad) are reported only if they're income (foreign income) or in Schedule EI if exempt gifts.
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