Foreign income entry in India ITR for Resident Indian

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anujtan asked 9 years ago

Hi Sreekanth, How are you doing? I have a query related to Foreign income and Foreign account entry in current ITR form. I have only one month foreign income for last FY. As company has already taken care of foreign tax deduction and accounting. Want to check following points with you.

I need to file ITR using Form ITR 1 only?
Is it must to show one month foreign income in India return filing? As company provided F16 does not have information of one month foreign income.
DTAA agreement is already in placed between the countries, so needs to pay tax on global income and then claim using section 90 or 90A?
Is it must to show foreign account details in ITR form?

I am trying to find some enlightenment on this, hope you get the queries and help me with information on this. Thanks

anujtan replied 9 years ago

Thanks for the suggestion & help.

3 Answers

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Sreekanth Staff answered 9 years ago

Hi, I am doing good, thank you. How about you? 1 - Kindly read ; https://www.relakhs.com/new-itr-forms-ay-2017-18-fy-2016-17/ 2 & 3 - Kindly read : https://www.relakhs.com/double-taxation-avoidance-agreement/ 4 - May I know if you are an NRI or Resident Indian?

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anujtan answered 9 years ago

Thanks for the reply. I am good too. I have already gone thru these articles but still not sure on my queries as what would be the correct and applicable answer, so looking for some guidance here to get my query answer. I am a resident Indian. Thanks

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Sreekanth Staff answered 9 years ago

Hi, I believe that Resident Indians have to disclose Foreign bank account details when filing ITR. As you are a Resident Indian, you need to disclose foreign income too in your ITR. Suggest you to take help of a CA and file your return .