CBDT gives releif for NRIs

New Delhi July 25: A clarification was issued recently. Central Board of Direct Taxes (CBDT)has given a partial releif for NRIs. CBDT has said that "Non-resident Indians (NRIs) won't be required to disclose their overseas bank accounts in the income tax return form and it is voluntary and not mandatory to fill that column."

CBDT chairman Sushil Chandra has said that "NRI's must disclose foreign bank details who wish to seek refunds." He has given a clarification regarding the queries on the new form seeking details of bank accounts held outside India by non-residents.

Finally, the NRIs were relieved after the clarification was issued and they have hailed the government for getting a quick reply so that they can file returns before July 31.