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TMI BlogClarifications in respect of filling-up of the ITR forms for the Assessment Year 2019-20X X X X Extracts X X X X X X X X Extracts X X X X ..... the Assessment Year 2019-20 The Income-tax Return (ITR) forms for the Assessment Year (A.Y.) 2019-20 were notified vide notification bearing G.S.R. 279(E) dated the 01st day of April, 2019. Subsequently, instructions for filing ITR forms were issued and the software utility for e-filing of all the ITR forms were also released. After notification of the ITR forms, various queries were raised by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s shares are listed or unlisted (d) Director Identification Number (DIN) 3.2 Representation has been received stating that non-residents are required to pay tax only in respect of income received in India or income accruing or arising in India. Non-residents are not required to disclose their assets outside India. Therefore, non-residents should not be required to disclose details of directorsh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ls of his directorship in a foreign company, which does not have any income received in India, or accruing or arising in India. In other words, a non-resident taxpayer who is Director only in a foreign company, which does not have any income received in India, or accruing or arising in India, should answer the relevant question in the negative, whereupon he would not be required to disclose detail ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ner, beneficiary or otherwise, any asset (including financial interest in any entity) located outside India; or (b) had signing authority in any account located outside India; or (c) had income from any source outside India? In case of an affirmative answer, the taxpayer is required to fill up the Schedule FA. In Schedule FA, the taxpayer is required to disclose the details of foreign assets ..... X X X X Extracts X X X X X X X X Extracts X X X X
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