Which ITR form to use for reporting of Outward Foreign Remittance

Efiling 395 views 5 replies

I need to file the ITR of a salaried resident individual for AY 2025-26. Apart from salary income and some bank interest income, his AIS and Form 26AS are showing " Outward Foreign Remittance/Purchase of Foreign Currency" to be Rs 36,530. In Form 26AS this amt is also reflecting under "Amount Paid/Debited" but the TCS showing is NIL. 

My first question is (i) Which ITR Form should i use to file his ITR ? ITR-1 or ITR-2 ? 

2nd question is (ii) Where and how do I report this in the ITR form ? 

Please elaborate and guide . Thanks and Regards.    

Replies (5)

For what purpose you remitted Rs 36530/- ? 

I also have the same query for outward foreign remittance of Rs 1.45 L for my brother's daughter education purpose in US. There is no tax deducted / paid. In which ITR have to declare and under which head / section in ITR. 

Please guide us.

Thanks and Regards.

 

There is no tax to be paid for Outward Remittance under 10Lakh for the various purposes mentioned by you all.

So there is no need for specifically reporting the same in ITR.

So leaving aside the Outward Remittance, use the ITR Form that applies to you due to other conditions, eg Capital Gains etc.

Thanks a lot. This would help.

 

Glad to be of help 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register