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Income Tax - Frequently Asked Questions (FAQs) |
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FAQs in respect of filling-up of the Income-tax return forms for Assessment Year 2022-23 |
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A company is required to disclose break-up of all payments and receipts during the year, in foreign currency, as per Schedule FD of ITR-6 (if it is not required to get the accounts audited u/s 44AB). Please clarify whether only the receipts/payments related to Business Operations in India. |
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Ans. Yes. In Schedule FD, the break-up of receipts and payments in foreign currency is required to be reported only in respect of business operations in India. |
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