Dear TaxGurus - I have sent less than Rs.7,50,000 to my relative outside India during FY20-21 as Financial help. Do I need to disclose that anywhere in the ITR for AY21-22? If Yes under which head?
Sumedh Joshi (2 Points)
27 December 2021Dear TaxGurus - I have sent less than Rs.7,50,000 to my relative outside India during FY20-21 as Financial help. Do I need to disclose that anywhere in the ITR for AY21-22? If Yes under which head?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(168002 Points)
Replied 27 December 2021
No. Its not any inward remittance or income. Where will you declare it in ITR?
It is personal expenditure & will reflect in your capital account.
sabyasachi mukherjee
(27129 Points)
Replied 27 December 2021
JJJ
(Need help)
(673 Points)
Replied 27 December 2021
No need at all. Just combine with the rest of your personal expenses and list the total as a reduction from your capital account.
Just remember to claim credit for TCS if it's been deducted.
b.f .fcbincome tax
(2 Points)
Replied 22 June 2024
Sir, my boss has paid more than 40 lakh through the LRS Scheme, So where have to show in ITR
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
