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Additional Rule in Income Tax Return Form: Details of Bank Account & Foreign Trips must be given!
Posted on: 18/Apr/2015 6:07:37 PM
The central government department of Direct Taxes has made a few changes in the Income Tax Return Form to be filed for the last financial year.
The individuals filing income tax returns will now need to fill up particulars of all their bank accounts and foreign trips in the ITR.
Income Tax Department has announced that the required changes have been carried out.
The details of the bank accounts in operation and accounts opened in the financial year must be filled up in ITR-1 & ITR-2 Forms.
Names of the banks, Account Number, Address of the bank, and IFSC code should be given. All details of foreign trips made must also be filled up.
It is gathered that this step has been taken to check & prevent the circulation of black money both inside & outside the country.
