NRIs’ overseas bank info needed only for tax refund
Availability of details of bank accounts in which the refund is to be credited is a precondition for direct credit of refund in accounts. (Representative photo)
NEW DELHI: It is not mandatory for NRIs to provide details of their overseas bank accounts when they file tax returns and only those who seek refunds need to do so, Sushil Chandra, chairman of the Central Board of Direct Taxes (CBDT), said on Monday, putting to rest all confusion on the issue. The tax department also issued a statement, clarifying the issue which had puzzled NRIs and expatriates.
“Therefore, the non-residents who are not claiming refund or non-residents who are claiming refund but having a bank account in India are not required to furnish details of their foreign bank accounts in the return of income,” the tax department said in a statement.
Credit: timesofindia.indiatimes.com