Updated on: April 17, 2025 | By: @rprasanth_kumar
French tax residents must declare their global income. This includes the interest from your bank accounts from outside France.
Declaration of foreign bank interest
How to declare your foreign bank interest? || Part 1: No Tax Credit || Ex: UK & India (NRE & FCNR)
How to declare your foreign bank interest? || Part 2: With Tax Credit || Ex: BEL; IND & AUS
Bonus Information:
- A very common misunderstanding that I see in multiple places about line 260. Line 260 is suggested for foreign bank interests, dividends, etc.
- This is not completely true. It should be used only when a French entity issues a dividend, interests, etc in a foreign country.
- So, line 260 shouldn’t be used for UK or Indian bank interest income
Other useful French Tax articles
You can find a lot of useful articles about the French tax declaration here Income Tax
Some examples are,
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Disclaimer
Any finance-related information shared is not professional legal, tax, or investment advice. The information provided is of an educational and general nature and is not investment advice within the meaning of Articles L. 321-1 and D. 321-1 of the French Monetary and Financial Code. Investment carries risks of loss and past performance does not guarantee future performance. For all professional advice, please consult a certified financial planner, CGP, CIF, tax consultant, etc.
Dear Prasanth,
You mentioned only 2042 form submission of online version. However, for Offline which 2042 form I need to use. I see 2042-C, 2042-IOM etc. in impots site.
Also, I came in 2023 May, so that means I will consider the interest, dividend I received in India after May should be declared only, and not before May even France Tax Year starts from January. Kindly clarify this point as well.
I appreciate your help.
Thank you!
Hello,
The main 2042 form is not yet published for offline declarations. Please refer to https://prasanthragupathy.com/2024/03/tax-list-of-income-tax-declaration-forms-in-france/
Yes, worldwide income earned only after reaching France is relevant for French tax declaration.
Article – How to publish Foreign bank interest.
“ Step 3: 2047 tax form
Line 231: Add “Royaume-Uni” for UK or “Inde” for India
Skip lines 232 to 240, because there is no tax credit applicable equal to tax paid in UK/India or France.”
On return line 232 has the option to add the country name. May be you can update as “skip lines 233 to 240”
Hello, I have simplified it even further
Hello, unclear if line 232 needs to be done also, or start at line 250…
Hello Peter,
Please refer to my step-by-step video tutorials.
1. How to declare your foreign bank interest? || Part 1: No Tax Credit || Ex: UK & India (NRE & FCNR) https://youtu.be/y6VuAEjcvnI
2. How to declare your foreign bank interest? || Part 2: With Tax Credit || Ex: BEL, IND & AUS https://youtu.be/N4EtsWrC-rg
Cheers,
Prasanth
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Hi Prasanth,
Thank you for the very useful article.
Could you please help me with the following query- I arrived in France in Setpember 2024 and received my salary in my Indian account till August 2023. How and where do I declare this in form 2047?
Hello Siddhi,
Any income earned before reaching France is not taxable in France.
Hi Prashanth,
Few questions related to India rental income declarations in France;
1. Is 2047 the correct annexure for declaration of India rental income?
2. According to DTAA India rental income is exempt from taxation in France, Correct?
3. Is there any effect of India rental income in the tax brackets in France? e,g. If there’s a 5k Euro India rental earning are declared in France, will this go over the top of total taxable earnings in France and hence it adds up to the additional tax?
4. What is the cell number to declare India rental income in the main tax declaration form?
Thanks in advance for your exceptional and great work.
Kushal
Hello Kushal,
For Indian rental income,
1. All the relevant Tax Forms are 2042, 2044, 2047 and 2042-C PRO. Depending on the situation, the forms will change.
2. So, a tax credit equal to french tax will be given.
3. Yes, the rental income will increase your total income and so the tax brackets too.
4. It depends on the exact type of income. There are multiple lines. Difficult to explain here.
Hi Prashanth,
I read that there is a DTAA between India and France and there is tax credit applicable for tax paid on interest income from India of 10% is this wrong?
I saw that you were saying there’s no tax credit
hello,
Yes, but it depends. I have explained the two cases below.
NRE & FCNR https://youtu.be/y6VuAEjcvnI
NRO https://youtu.be/N4EtsWrC-rg
Hello Prashanth,
Thanks a lot and in 3916 form I see that you say we don’t have to show all the fixed deposits, I’ve already shown all the fixed deposits in there, is that a problem?
Hello, If you had declared the bank accounts, there is no requirement for declaring the FDs inside them.
The FDs aren’t separate bank accounts. So, you can correct your declaration when it’s possible.
Hello Prashanth, Thanks again, just want to know, is there any problem if I declare the FDs?
Do I have to file again deleting the FDs?
If it’s me, I would correct my declaration by removing the FDs. So, it’s your declaration & so your decision.
Complicating things unnecessarily isn’t good.
Dear Prasanth,
Thanks for your very useful articles.
Could you please help me with the following query- I left France in September 2024 and received my salary / pension from Oct 2024 to Dec 2024 in my Indian account (Salary for Oct 2024 and pension for Nov – Dec 2024, since I retired in the month of Oct 2024).
Further I received retirement benefits (i.e. PF, gratuity, leave encashment) during Nov to Dec 2024.
Any income earned after leaving France is taxable in France?
If yes, how and where do I declare this in form 2047?
Hello Aparajita,
Any income earned abroad before arriving in France and after leaving France are not taxable in France. Income earned in France after leaving France will be taxed as a non-resident.
Cheers,
Prasanth
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