Section 89A for former NRI and now ROR

Sri77 (Others) (52 Points)

10 July 2022  

If a person was formely NRI and returned to India in 2012. He has retirement benefit account in the US and wants to take advantage of Section 89A.

In FY 2021-22, he has not withdrawn any money from the retirement account sine he is not eligible to withdraw. However there are accruals in the form of dividend.(say 1L)

In ITR2 for AY 2022-23,


1) Do we still have to report the accrued income in the retirement scheme in Schedule FA ?

2) Should the same accrual be shown it in Schedule S line 1(d) and claim it as non-taxable in Schedule S line 3(a) "Income claimed for relief from taxation under Section 89A"?

3) OR is Schedule S line 1(d) be used only if the amount was withdrawn from the retirement account.

 

Thanks

Sri