You’ll have to disclose foreign trips

NEW DELHI: The government notified new forms on Friday that will require the taxpayer to give details of foreign trips, bank accounts, passport and Aadhaar numbers while filing returns.

The new forms, which run into 14 pages, will be applicable from the current assessment year implying taxpayers will have to furnish last year’s (2014-15) details, including overseas travel, the money spent on such trips and the sources of these funds among others.

HT had first reported on August 22 last year about the gov- ernment’s plans to make it mandatory to disclose details of overseas trips in tax return forms as part of a broad strategy to crack down on India’s black economy.

Under the new tax filing norms, the taxpayer will have to furnish the number of bank accounts held “at any time (including opened/ closed) during the previous year” with the last balance in his or her account on March 31 of the just concluded fiscal.

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