Tax relief on USA Retirement Benefit Account - u/s 89A r.w.s rule 21AAA

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....ax relief on USA Retirement Benefit Account - u/s 89A r.w.s rule 21AAA<br> Query (Issue) Started By: - PRIYAM KHAMBHATA Dated:- 23-7-2025 Income Tax<br>Income Tax<br>Respected Sir My client is citize....

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....n of USA since long, but his residential status became Resident of India, from AY 2019-20. He is maintaining Foreign Retirement Benefit Account - 401K account, IRA Account. As per the new provisions i....

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....nserted from 01.04.2022 in respect of Tax Relief u/s. 89A read with rule 21AAA, he has to exercise option, foreign income reporting at the time of receipt, not at the time of accrued and to file Form ....

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....10EE online. But, my client has missed out file Form 10EE from AY 2023-24 and not to report foreign income on such foreign retirement benefit accounts in the Return of Income filed for AY 2022-23 to 2....

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....024-25. Now, what are the consequences arise, if he file Form 10EE as per the rule 21AAA for the AY 2025-26, or otherwise he will not file Form 10EE and Foreign Income will report in ITR when he rece....

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....ives. Should he report foreign retirement accounts in Foreign Asset Disclosure - Schedule FA in ITR ? Please guide me. Thanks<br> Discussion Forum - Knowledge Sharing ....