Foreign income disclosure by nris for it return in india

On 24 July, 2017, CBDT clarified that non-residents who are not claiming refund or non-residents who are claiming a refund but have a bank account in India are not required to furnish details of their foreign bank account in the return of income.

However, non-residents who are claiming income tax refund but do not have a bank account in India may furnish the details of one foreign bank account in the return of income for the issuance of refund.

Further, non-residents are not required to report their assets and financial interests outside India.

NRIs having total income above Rs 5 million are required to report the cost of certain assets (movable as well as immovable) located in India and the corresponding liabilities under the schedule of assets and liabilities (Schedule AL).

This schedule is contained in ITR 2, 3 & 4.