Planning a foreign trip? 5 things the IT Department wants to know from you

Taxpayers will have now, not only have to disclose all bank accounts held by them in the country, but also the instances of foreign travel to the Income Tax department while filing their returns for the assessment year 2015-16.

The Central Board of Direct Taxes, the apex policy making body of the Income Tax department, has notified new Income Tax Return (ITR) forms for the current assessment year, making some additions to the existing format as part of obtaining new information to check the menace of black money.

So if you are travelling abroad, here are few things the IT would want to know from you.

1. The IT now wants know your passport number, so make sure to include this little but important detail in the new ITR form.

2. The place where your passport was issued.

3. The number of countries you visited that year.

4. The number of times you visited a foreign country.

5. If you are a resident taxpayer, expenses incurred from your own sources in relation to such foreign travel.