Foregin Bank Account details submission for Non- Resident

Foregin Bank Account details submission for Non- Resident

The refund generated on processing of return of income is currently credited directly to the bank accounts of taxpayers. Providing the details of bank accounts in which the refund is to be credited is mandatory for direct credit of refund in accounts. So the Non- Resident who do not have a bank account in India and want to claim a refund were facing difficulty in getting a refund. This is because; earlier there was no column in the return form for reporting details of foreign bank account held by Non- Resident  to claim a refund.

The Income Tax department, provided the facility for reporting the foreign bank accounts in the return forms in order to claim refunds.

Note: - The option of “Foreign Bank Account” is enabled only in the case of Non-Resident.

To fill foreign bank Account details, please follow the process below:

Open the Income Tax software - Go to Transactions → Additional Information (Bank & Credit Card detail) option given in the menu bar

Click on “Foreign Bank Account” Option