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Query Regarding ITR foreign remittance

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Abhi Saini

21 Points Posted on 19 July 2024

Hello ,

Every year I fill ITR-1. my income is less than taxable income.

In 2023 I purchased a software from foreign website of rs 12000. It's showing in 26AS as outward foreign remittance/purchase of foreign currency.

Which ITR should I fill in this case.

Is it necessary to show this transaction in ITR ?

Replies (2)

Quick Summary

This discussion addresses whether a purchase of software from a foreign website for ₹12,000, appearing as an outward foreign remittance in Form 26AS, needs to be declared in an Income Tax Return (ITR). The consensus is that if your total income is below the taxable threshold and the foreign remittance is the only non-standard transaction, you do not need to declare it. This is particularly true if the remittance amount is below the specified threshold for reporting.