CA Sandeep Kanoi

CBDT has vide Notification No. 41/2015 requires Assessee to Disclose in Schedule FT of ITR Details of foreign travel and expenses incurred during the year by the Assessee.

This schedule is required to be filled if the assessee has undertaken any foreign travel during the previous year. The countries visited and the number of times it was visited during the previous year is to be filled up. Further, mention the expenses incurred from own sources of income in such trip i.e. other than expenses incurred by the employer or any other person being a sponsor.

Schedule Requires Following Details :-

  1. Passport Number of the Assessee
  2. Place of Issue of Passport
  3. Country visited during the year
  4. Number of times visited
  5. In case of a resident, expenses incurred from own sources, if any, in relation to such travel

Format of Schedule FT- Details of foreign travel and expenses incurred during the year is as follows :-

Passport Number Issued at
Sl. Country visited during the year Number of times visited In case of a resident, expenses incurred from own sources, if any, in relation to such travel
(1) (2) (3) (4)
1.
2.

 

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Tags : CA Sandeep Kanoi (251) ITR (581)

18 responses to “Disclose details of Foreign Travel In Income Tax Return (ITR)”

  1. Lakshminarayana M says:

    If It is below 2 lakh all expenses of Foreign Tour.
    And it is personnel tour of Holidays of Individuals and self employment peoples.If mandetory to Disclose in ITR. How & where to enter the such details, what details to show them.

  2. Raja simha says:

    addition to my above query the details to be provided while filing itr for the employer

  3. Raja simha says:

    what would be done if the employer is an sole proprietorship incurred foreign travel expenditure for his employee. Then in this is it required to show in the schedule FT or can directly shown as a business expenditure.

    If the same employer incurred the foreign travel expenditure for himself for the business purpose wheather this is required to show under schedule FT or not

    please clarify me

  4. M K SRIDHARN says:

    How to file by a senior citizen who has come to USA a for a temporary stay until August 2015 and what is the due date. FORM AS 26 COULD NOT BE VIEWED FROM USA. HENCE TAX DEDUCTED BY COMPANIES ON DEPOSITS IS NOT KNOWN

  5. idiot says:

    a rule brought without professional thinking.

    why has the kyc and pan and aadhar compulsion campaign/activities carried out for past so many years when now govt thinks on asking for bank account details.

    is kyc/pan/aadahar not sufficient to know bank details.

    what about foreign travellers who have genuinely paid all amounts by cheque from saving banks as hardly reputed travel firms in india and or abroad operating in india deal in cash payments.
    this sounds unprofessionalism on part of the concerned departments or who knows after foreign trips by mnisters made with tax payers money (especiually made to swiss for the balck money slashed in the eu havens) the govt. thinks that tax payers can be taken for a ride.

    apparently will give rise to public keeping money in pots under the earth as in olden timEs and avoid keeping money in banks.
    better scrap THIS UNWANTED TIME AND MONEY WASTING LAWS. we await the official announcement of the real U-TURN formally by the government rather wasting time. is this ”SABKA SAATH SABKA VIKAAS”THE PM HAS BEEN INFORMING TIME AND AGAIN SCRAP UNWANTED RULES/LAWS BUT THIS IS THE INTRODUCTION OF NEW UNWANTED LAW.!!!!

  6. Rawal Singh Bhati says:

    @raman gupta
    @ajit gupta

    Just wait Goverment announce to Review the above requirement

    So wait untill clarification issued

  7. Anuradha says:

    For meaningful enquiry

    Instead of number of times visited , it should have been number of days stayed abroad

    In case of expenditre not met out of own sources, the details of persons who met expenditure should have been asked.

  8. Ajit says:

    Can you please inform if this section is applicable to the NRIs as well? (I hope it is not!)

  9. Raman Gupta says:

    Whether a permanent Resident of a foreign country(but Filing return here as NRI)
    who visits India,or another foreign country.Is he supposed to report all his visits from his country of residence to other countries .Also if he visits India,whether he will report his trip to India or from India to his resident country.

  10. G C SHARMA says:

    ONLY 3% TAX PAYERS FACE ALL TAX LAWS AND EVERY DAY NEW RULES .
    ONLY FOOL FACE RULES BUT WISE WITHOUT FILING ANY RETURN ENJOYING SWIMMING POOLS VERY COOL. FOR THEM NO RULES

  11. rugram says:

    Foreign travel is expensive. Providing details of travel and expenses incurred therefor, would prove to be a great incentive for I-T Dept. staff to harass tax return filers and to ask for bribes.
    Does the I-T Dept. have the necessary resources – both technical and human – to analyse the information provided relating to foreign travel, bank accounts, etc. to arrive at a meaningful conclusion? Simply calling for heaps of information without a definite plan for its analysis and use, is sheer waste of thousands of man hours of both assesses and the staff. It appears to me that these provisions have been introduced without adequate thought being given to the work involved.

  12. rugram says:

    Expenses incurred on foreign trip: Does this include the amount of foreign exchange that is availed of by a traveler before he goes abroad (under FTS/other permitted schemes)? Obviously, if a person takes foreign exchange with him, he will spend that exchange for expenses abroad. It is not practicable to ask people to keep a record of detailed expenses abroad, but easier to give details of foreign exchange availed of officially, before leaving India.
    Further, if a person uses his international debit/credit card of his bank to pay bills or for purchases while he is abroad, should these details also be provided in the I-T Return?
    It is common for people to take medical and other insurance for themselves in Rupees in India before they go abroad. Would such premium paid from own sources be required to be reported in the Return as it may be classified as ‘in relation to such travel’?
    The wording of the circular says ‘expenses incurred from own sources, if any’. Many senior citizens visit their children who are abroad. The children often book the ticket cost for the travel as also take care of the expenses of stay of the seniors when they are abroad. In such cases, the senior citizen would provide details of the travel but show nil expenses. This type of report may invite some queries from the I-T Dept. that may not be able to relate the travel undertaken at ‘nil cost’, leading to harassment of the senior citizen.
    It would be useful if the CBDT provides detailed guide-lines in this regard immediately.

  13. CA. Subhash Chandra Podder says:

    IT IS BETTER TO ASK EVERY ASSESSES TO FURNISH DETAILS OF DAILY HOUSEHOLD EXPENDITURE , TO CATCH HOLD TAX EVADERS .

  14. Rahul says:

    Is this information mandatory in all ITR’s ?

    And also if an assesse doesnt disclose then how will the department get to know of the evasion. As mostly individuals tend to use black money for travel.
    Is it mandatory to give the passport no. ? might sound like stupid questions but i just like to clear them.

    Thanks in advance

  15. Kumar says:

    Jaitley is doing what Chidambaram attempted a few years ago – asking assessee to file their household cash flows.

  16. Ravinder says:

    Thanks for information. In order to catch few tax evaders, CBDT is prescribing complex and cumbersome procedures for large number of genuine tax payers and travelers. Reversing the process of simplification of income tax.

  17. Kanaka says:

    I Agree with Sharad!. using PAN as the unique identification, they can decode all the details and seek the required clarification from the concerned personnel incase of abnormality.

  18. sharad says:

    Does CBDT think that high spenders will do so out of their declared bank balances? height of naivety or stupidity, take your pick!!

    If objective is to collect data/ act as deterrent ask for source with PAN followed by detailed/ focussed scrutiny in unusual transactions, specially of politicians, journalists and bureucrats

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