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Foreign income and bank account

Others 1307 views 2 replies

Hi all

 

Client was working in US for last financial year and returned back to India recently, she didn't closed her bank account there.

 

Now she got intimation to show foreign assets in itr?

1) She has to file her incometax return showing foreign income or need to declare bank account details?

2) if she has to declare foreign income how to get tax certificate?

Please help it's very urgent 

Replies (2)

If the client is Non-Resident or RNOR, she does not need to declare foreign income or the US bank account in her Indian ITR, even if the account is still open. Foreign income and Schedule FA disclosure apply only if she is Resident & Ordinarily Resident (ROR). The intimation received is likely system-generated. First confirm residential status—this resolves the issue entirely.

Advice

Please check in incometax....profile...status... ( Because even if assessee is NRI and status in profile not corrected....itr will be processed accordingly)


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