Foreign travel expense

[Malharrao Deshpande]

Dear Sir, 

I have one query.

If person has spend more than Rs. 2 Lakh as foreign travel expense and also have taxable income . So where to show this expense in ITR2. I don’t see any Schedule FT. If I select filing under 7th proviso as YES then only I can write the amount. I cannot select as YES as my income is more than maximum exemption limit i.e. 300000 . So where to show the expense. I am using ITR2.

Please advise.

Thank you

 

[Nikhil Kaushik]

you need not select 7th proviso in this case as you are liable to file the return under normal provisions itself.

[Rama chary Rachakonda]

To report foreign travel expenses exceeding ₹2 lakhs in ITR-2, follow these steps:

Step 1: Check if you’re eligible to claim the exemption If your taxable income exceeds ₹3 lakhs, you cannot claim the exemption under the 7th proviso. 

Step 2: Report the foreign travel expense in Schedule SI Since you cannot claim the exemption, report the foreign travel expense in Schedule SI (Income from Salaries) or Schedule BP (Business or Profession), as applicable. Step 3: Fill in the details In Schedule SI or BP, fill in the details of the foreign travel expense, including: – 

*Descripttion*: Mention “Foreign Travel Expense” or a similar descripttion. – *Amount*: Enter the amount exceeding ₹2 lakhs. 

Additional Tips: – Ensure you maintain supporting documents, such as invoices, receipts, and travel records, to substantiate the expense. – 

If you’re claiming any other deductions or exemptions, ensure you comply with the relevant provisions and reporting requirements. 

[Nikhil Kaushik]

are you sure of this response?

 

can you give a dummy example with a filled schedule?

[Rama chary Rachakonda]

Yes it is sure on available resources at present 

[Malharrao Deshpande]

Thank you for your replies.
 I am suppose to fill ITR 2 . It is expense.So how can it be income from salary.

I am not getting it

Thank you

[Nikhil Kaushik]

i do not think your response is correct. It would help if you can show how it is to be done in the Salary schedule. It is an expense. How you disclose it is Salary schedule or Special Rate Incomes?

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