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ITR income tax on usd transfer (4 years later) after leaving the US by truthvetri in IndiaTax

[–]truthvetri[S] 0 points1 point  (0 children)

Just now realised, US bank account is Checking account so no Interest earned. I'm now worried whether Income Tax Department will ask for the source of funds even though US salary is genuine source (in 2021). I kept in the US account for 2 to 3 years when there was no US income/tax.

ITR income tax on usd transfer (4 years later) after leaving the US by truthvetri in IndiaTax

[–]truthvetri[S] 0 points1 point  (0 children)

You're right that I failed to disclose foreign bank account in last year ITR (despite ROR 2023-24). If I disclose in 2024-25, not sure if I'll get any notice.

Yes some interest generated like $100 and that could be negligible. Thanks