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Income Tax Refund in Foreign Bank Account

402 views 2 replies
Hello friends,

We are facing the following problem: Income Tax Refund (which is processed and tax duly deducted thereon) is not getting credited to foreign Bank Account of a foreign Company. It states on website "refund failure due to non validation of bank account."

Now a foreign Bank Account cant have PAN linked to it, and cant be validated like an Indian Account. This is the confusion. Govt has, via press release made it clear that it will be possible to receive refund in Foreign Bank Account. ITR form has fields to fill such Account Details. But there seems to be some difficulty in this.

I think many others are facing this isue as well. Has anybody come across any solution to this? Or please share your experience.
Thank you.
Replies (2)

The IT department is crediting the refund to the foreign bank account of the assessees. You must be doing something wrong.

In case of any further queries, kindly mail me at casoravgupta @ gmail.com

Thanks & Regards
CA. Sorav Gupta
(Practicing Chartered Accountant)

Thank you


CCI Pro

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