Indian Taxation: CBDT issues clarifications for NRIs

General, News, NRI

Central Board of Direct Taxes (CBDT) has released clarifications in the form of frequently asked questions (FAQs) addressing some such matters and those relevant to NRIs are summarised below:

If you are a non-resident of India (NRI), you need to mention your overseas residency and provide details of the jurisdiction and tax payer identification number (TIN) in the return form. It has been clarified that if you are not allotted a TIN in your overseas tax jurisdiction, you can mention your passport number instead of TIN and name of the country in which the passport was issued should be mentioned as the ‘jurisdiction of residence’.

Where you are a director in any company (including a foreign company), you also need to provide details of such companies. Quoting of permanent account number (PAN) is not mandatory while filling the details of the foreign company in which you are a director. It is now clarified that if such a foreign company already holds a PAN, you should mention the same in ITR form. So, you need to check and obtain from the foreign company where it has been allotted a PAN.

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