{"id":28848,"date":"2025-03-05T00:17:40","date_gmt":"2025-03-04T18:47:40","guid":{"rendered":"https:\/\/carajput.com\/blog\/?p=28848"},"modified":"2025-03-27T16:20:14","modified_gmt":"2025-03-27T10:50:14","slug":"ftc-not-denied-merely-on-procedural-lapses-if-conditions-met","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/ftc-not-denied-merely-on-procedural-lapses-if-conditions-met\/","title":{"rendered":"FTC Not denied merely on procedural lapses if conditions met"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69e1291e6b885\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69e1291e6b885\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/ftc-not-denied-merely-on-procedural-lapses-if-conditions-met\/#ITAT_Chandigarh_Order_Assessee_Regarding_FTC_not_be_denied_merely_on_procedural_lapses_if_substantive_conditions_are_met\" title=\"ITAT Chandigarh Order Assessee Regarding FTC not be denied merely on procedural lapses if substantive conditions are met.\">ITAT Chandigarh Order Assessee Regarding FTC not be denied merely on procedural lapses if substantive conditions are met.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/ftc-not-denied-merely-on-procedural-lapses-if-conditions-met\/#Time_Limit_for_Filing_Form_67\" title=\"Time Limit for Filing Form 67: \">Time Limit for Filing Form 67: <\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/ftc-not-denied-merely-on-procedural-lapses-if-conditions-met\/#Incorrect_Denial_of_FTC_by_AO_and_Commissioner_of_Income_Tax_Appeals\" title=\"Incorrect Denial of FTC by AO and Commissioner of Income Tax (Appeals): \">Incorrect Denial of FTC by AO and Commissioner of Income Tax (Appeals): <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/ftc-not-denied-merely-on-procedural-lapses-if-conditions-met\/#Relief_Granted_by_Income_Tax_Appellate_Tribunal\" title=\"Relief Granted by Income Tax Appellate Tribunal : \">Relief Granted by Income Tax Appellate Tribunal : <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/ftc-not-denied-merely-on-procedural-lapses-if-conditions-met\/#Implication_of_the_ITAT_Chandigarh_Order\" title=\"Implication of the ITAT Chandigarh Order : \">Implication of the ITAT Chandigarh Order : <\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/ftc-not-denied-merely-on-procedural-lapses-if-conditions-met\/#Other_Important_Aspacts_of_Filling_Out_Form_67\" title=\"Other Important Aspacts of Filling Out Form 67:\u00a0\">Other Important Aspacts of Filling Out Form 67:\u00a0<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/ftc-not-denied-merely-on-procedural-lapses-if-conditions-met\/#Form_67_Applicability\" title=\"Form 67 Applicability: \">Form 67 Applicability: <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/ftc-not-denied-merely-on-procedural-lapses-if-conditions-met\/#Due_date_for_filing_Form_67_For_FY_2024-25\" title=\"Due date for filing Form 67 For FY 2024-25\u00a0\">Due date for filing Form 67 For FY 2024-25\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/ftc-not-denied-merely-on-procedural-lapses-if-conditions-met\/#Foreign_Tax_Credit_FTC_claim_under_Rule_128\" title=\"Foreign Tax Credit (FTC) claim under Rule 128\">Foreign Tax Credit (FTC) claim under Rule 128<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/ftc-not-denied-merely-on-procedural-lapses-if-conditions-met\/#For_FTC_claim_below_documents_are_required_to_be_filed_on_or_before_the_due_date_of_filing_the_ITR_return\" title=\"For FTC claim below, documents are required to be filed on or before the due date of filing the ITR return:\u00a0\">For FTC claim below, documents are required to be filed on or before the due date of filing the ITR return:\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/carajput.com\/blog\/ftc-not-denied-merely-on-procedural-lapses-if-conditions-met\/#Guide_Steps_for_filing_Form_67_on_the_e-filing_portal\" title=\"Guide Steps for filing Form 67 on the e-filing portal\">Guide Steps for filing Form 67 on the e-filing portal<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/carajput.com\/blog\/ftc-not-denied-merely-on-procedural-lapses-if-conditions-met\/#FTC_claim_process_supports_services\" title=\"FTC claim process supports services.\u00a0\">FTC claim process supports services.\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-22527\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/05\/Form-67-Filling-.jpg\" alt=\"Form 67 Filling\" width=\"1200\" height=\"479\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/05\/Form-67-Filling-.jpg 1200w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/05\/Form-67-Filling--300x120.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/05\/Form-67-Filling--1024x409.jpg 1024w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/05\/Form-67-Filling--768x307.jpg 768w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/05\/Form-67-Filling--800x319.jpg 800w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/h2>\n<h2><span class=\"ez-toc-section\" id=\"ITAT_Chandigarh_Order_Assessee_Regarding_FTC_not_be_denied_merely_on_procedural_lapses_if_substantive_conditions_are_met\"><\/span><span style=\"color: #000080;\"><strong>ITAT Chandigarh Order Assessee Regarding FTC not be denied merely on procedural lapses if substantive conditions are met.<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Income Tax Appellate Tribunal Chandigarh in the case of Ashish Sood vs. DCIT (order dated 23.04.2024) ruled in favor of the assessee regarding the foreign tax credit claim. foreign tax credit should not be denied merely on procedural lapses if substantive conditions are met. Key Observations of Income Tax Appellate Tribunal Chandigarh:<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Time_Limit_for_Filing_Form_67\"><\/span><span style=\"color: #000080;\"><strong>Time Limit for Filing Form 67: <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The tribunal noted that the time limit for filing Form 67, as per Rule 128(9) prior to 1st April 2022, did not strictly mandate that the form be filed before the due date of the ITR. Therefore, an assessee filing Form 67 after filing the return but before the intimation u\/s 143(1) should still be eligible for foreign tax credit.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Incorrect_Denial_of_FTC_by_AO_and_Commissioner_of_Income_Tax_Appeals\"><\/span><span style=\"color: #000080;\"><strong>Incorrect Denial of FTC by AO and Commissioner of Income Tax (Appeals)<\/strong><\/span><strong><span style=\"color: #000080;\">:<\/span> <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The AO &amp; Commissioner of Income Tax (Appeals) had denied the Foreign Tax Credit claim solely on the grounds that Form 67 was not filed before the ITR due date. However, the ITAT referred to precedents where it was held that FTC cannot be denied merely due to a delay in filing Form 67.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Relief_Granted_by_Income_Tax_Appellate_Tribunal\"><\/span><span style=\"color: #000080;\"><strong>Relief Granted by Income Tax Appellate Tribunal<\/strong> <strong>: <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The impugned order of Commissioner of Income Tax (Appeals) was set aside and The matter was remanded back to CIT(A) with directions to allow FTC after due verification of the foreign income earned in the USA and tax credits claimed.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Implication_of_the_ITAT_Chandigarh_Order\"><\/span><span style=\"color: #000080;\"><strong>Implication of the ITAT Chandigarh Order : <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>This FTC ruling reinforces that FTC should not be denied merely on procedural lapses if substantive conditions are met. Taxpayers who miss the due date for Form 67 but file it before 143(1) intimation may still be eligible for foreign tax credit. Assessees facing similar disallowances can rely on this ruling for relief.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Other_Important_Aspacts_of_Filling_Out_Form_67\"><\/span><span style=\"color: #000080;\">Other Important Aspacts of Filling Out <strong data-start=\"119\" data-end=\"144\">Form 67:\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 data-start=\"119\" data-end=\"146\"><span class=\"ez-toc-section\" id=\"Form_67_Applicability\"><\/span><span style=\"color: #000080;\"><strong data-start=\"119\" data-end=\"144\">Form 67 Applicability: <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p data-start=\"119\" data-end=\"146\">Income Tax Form 67 filling is required when a taxpayer wants to claim Foreign Tax Credit u\/s 90, 90A, or 91 of the Income Tax Act. It applies to both individuals and businesses earning income from foreign sources.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Due_date_for_filing_Form_67_For_FY_2024-25\"><\/span><span style=\"color: #000080;\">Due date for filing <strong data-start=\"57\" data-end=\"68\">Form 67 For FY 2024-25\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p data-start=\"0\" data-end=\"111\">For FY 2024-25 (AY 2025-26), the due date for filing Form 67 depends on the type of return being filed:<\/p>\n<ul>\n<li data-start=\"113\" data-end=\"275\">For Original Return (u\/s 139(1)), &#8211; Form 67 must be filed before the due date of ITR, which is July 31, 2025 (for individuals not subject to audit).<\/li>\n<li data-start=\"276\" data-end=\"368\">In case of Belated Return (u\/s 139(4)), -Form 67 must be filed before December 31, 2025.<\/li>\n<li data-start=\"369\" data-end=\"479\">For Updated Return (u\/s 139(8A)), Form 67 must be filed before the due date of the updated return.<\/li>\n<li data-start=\"1257\" data-end=\"1442\">\n<p data-start=\"1260\" data-end=\"1296\">Filing Form 67 for Revised ITR: If you are revising your return (ITR-U or otherwise), ensure that Form 67 is rectified and submitted before filing the revised return.<\/p>\n<\/li>\n<li data-start=\"993\" data-end=\"1255\">\n<p data-start=\"996\" data-end=\"1038\">Impact of Not Filing Form 67 on Time: If Form 67 is not submitted before the due date of ITR filing, the claim for Foreign Tax Credit may be denied. However, the taxpayer can still request condonation of delay to allow FTC claims. If Form 67 is not filed before the end of the AY (i.e., March 31, 2026), you will not be eligible for the FTC \u00a0u\/s 90 of the Income tax Act<\/p>\n<\/li>\n<li data-start=\"993\" data-end=\"1255\">\n<p data-start=\"119\" data-end=\"146\">Condonation for Late Filing of Form 67: CBDT Circular No. 9\/2022 (dated 16 June 2022) allows for condonation of delay in filing Form 67 up to the end of the AY if the taxpayer can provide a valid reason. The condonation request can be filed online via the &#8220;Condonation Request&#8221; section on the e-filing income tax portal.<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"481\" data-end=\"672\"><span class=\"ez-toc-section\" id=\"Foreign_Tax_Credit_FTC_claim_under_Rule_128\"><\/span><span style=\"color: #000080;\"><strong>Foreign Tax Credit (FTC) claim under Rule 128<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p data-start=\"0\" data-end=\"175\">The Foreign Tax Credit rules under Rule 128, ensuring clarity on claiming relief for taxes paid abroad.<\/p>\n<ul>\n<li data-start=\"177\" data-end=\"1047\">Foreign Tax Credit Claim Timing: Available in the year when the corresponding foreign income is taxed in India.<\/li>\n<li data-start=\"177\" data-end=\"1047\">Adjustment Scope: Can be offset against tax, surcharge, and cess, but not against penalties or interest.<\/li>\n<li data-start=\"177\" data-end=\"1047\">Disputed Taxes Excluded: If foreign tax is under dispute, foreign Tax Credit is not allowed until the dispute is settled.<\/li>\n<li data-start=\"177\" data-end=\"1047\">Minimum Alternate Tax Eligibility:\u00a0Foreign Tax Credit can be claimed even if tax is paid u\/s 115JB.<\/li>\n<li data-start=\"177\" data-end=\"1047\">Per-Country &amp; Per-Income Basis:\u00a0Foreign Tax Credit is calculated separately for each income source and country before aggregation.<\/li>\n<li data-start=\"177\" data-end=\"1047\">Maximum Foreign Tax Credit Limit: \u2013 Lower of (i) tax paid in the foreign country or (ii) Indian tax liability on that income.<\/li>\n<li data-start=\"177\" data-end=\"1047\">Currency Conversion Rule:\u00a0Uses the Telegraphic\u00a0Transfer Buying Rate of the last day of the month before the foreign tax was paid\/deducted.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"For_FTC_claim_below_documents_are_required_to_be_filed_on_or_before_the_due_date_of_filing_the_ITR_return\"><\/span><span style=\"color: #000080;\"><strong>For FTC claim below, documents are required to be filed on or before the due date of filing the ITR return:\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p data-start=\"0\" data-end=\"166\">To successfully claim Foreign Tax Credit (FTC) under Rule 128, the following documents must be furnished on or before the due date of filing the return:<\/p>\n<ol>\n<li data-start=\"168\" data-end=\"199\">Form 67 Submission : <span style=\"font-size: 16px;\">A statement detailing: <\/span>Foreign income<span style=\"font-size: 16px;\"> offered to tax in India and <\/span>Foreign tax deducted or paid<span style=\"font-size: 16px;\"> on such income<\/span><\/li>\n<li data-start=\"331\" data-end=\"402\">Certificate\/Statement Specifying Foreign Income &amp; Tax Paid :\u00a0Must be obtained from any of the following:<\/li>\n<\/ol>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li data-start=\"331\" data-end=\"402\">Foreign tax authority (Official tax assessment or payment proof)<\/li>\n<li data-start=\"331\" data-end=\"402\">Entity deducting the tax (Certificate from employer, bank, or payer)<\/li>\n<li data-start=\"331\" data-end=\"402\">Self-certified statement (Signed by the taxpayer)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\">3. Proof of Payment of Foreign Taxes: Any of the following documents can be used as proof:<\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul data-start=\"713\" data-end=\"957\">\n<li data-start=\"713\" data-end=\"957\">Tax payment challan or receipt from the foreign country<\/li>\n<li data-start=\"713\" data-end=\"957\">Bank statements showing tax deduction or remittance<\/li>\n<li data-start=\"713\" data-end=\"957\">Payslip\/withholding tax certificate from employer<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>In summary, Documents Required for Filing Form 67 : Statement or proof of payment of foreign tax (e.g., tax receipts). A copy of the tax return filed in the foreign country. and Any supporting documents showing the income earned and tax paid abroad.<\/p>\n<h3 data-start=\"0\" data-end=\"78\"><span class=\"ez-toc-section\" id=\"Guide_Steps_for_filing_Form_67_on_the_e-filing_portal\"><\/span><span style=\"color: #000080;\"><strong data-start=\"10\" data-end=\"32\">Guide<\/strong> Steps for filing <strong data-start=\"43\" data-end=\"54\">Form 67<\/strong> on the e-filing portal<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p data-start=\"80\" data-end=\"125\"><span style=\"color: #000080;\"><strong>Step 1: Log in to the e-Filing Portal.\u00a0 :<\/strong> <\/span>Visit the official Income Tax e-filing portal: \u00a0<a href=\"https:\/\/www.incometax.gov.in\" target=\"_new\" rel=\"noopener\" data-start=\"179\" data-end=\"239\">https:\/\/www.incometax.gov.in\u00a0<\/a> then we go for Log in using your PAN\/Aadhaar, password, and captcha.<\/p>\n<p data-start=\"303\" data-end=\"338\"><strong><span style=\"color: #000080;\">Step 2: Navigate to Form 67 :<\/span> <\/strong><span style=\"font-size: 16px;\">Click on <\/span>&#8220;e-File&#8221;<span style=\"font-size: 16px;\"> &gt; <\/span>&#8220;Income Tax Forms&#8221; then\u00a0<span style=\"font-size: 16px;\">Select <\/span>&#8220;File Income Tax Forms.&#8221; Then, in<span style=\"font-size: 16px;\">\u00a0the search bar, type <\/span>&#8220;Form 67&#8221;<span style=\"font-size: 16px;\"> and select it.<\/span><\/p>\n<p data-start=\"485\" data-end=\"529\"><strong data-start=\"489\" data-end=\"529\"><span style=\"color: #000080;\">Step 3: Fill in the Required Details:<\/span> <\/strong>AY <span style=\"font-size: 16px;\">\u00a0Choose the relevant AY for which you are claiming the <\/span>Foreign Tax Credit<span style=\"font-size: 16px;\">. <\/span>Taxpayer information like <span style=\"font-size: 16px;\">PAN &amp; other basic details will be auto-populated.<\/span><\/p>\n<ul data-start=\"530\" data-end=\"1254\">\n<li data-start=\"734\" data-end=\"978\"><span style=\"color: #000080;\"><strong data-start=\"736\" data-end=\"763\">Foreign Income Details:<\/strong><\/span>\n<ul data-start=\"766\" data-end=\"978\">\n<li data-start=\"766\" data-end=\"804\">Country where the income was earned.<\/li>\n<li data-start=\"807\" data-end=\"837\">Nature and source of income.<\/li>\n<li data-start=\"840\" data-end=\"889\">Amount of income earned in the foreign country.<\/li>\n<li data-start=\"892\" data-end=\"933\">Foreign tax paid (in foreign currency).<\/li>\n<li data-start=\"936\" data-end=\"978\">Foreign tax paid (converted into INR).<\/li>\n<\/ul>\n<\/li>\n<li data-start=\"979\" data-end=\"1108\"><span style=\"color: #000080;\"><strong>FTC Calculation: <\/strong><\/span>Mention the eligible amount of Foreign Tax Credit as per the DTAA or Section 91 (if applicable). then we required to\u00a0Upload Supporting Documents like\u00a0Tax payment receipt\/proof from the foreign country. and Copy of the foreign income tax return filed.<\/li>\n<\/ul>\n<p data-start=\"1256\" data-end=\"1299\"><span style=\"color: #000080;\"><strong data-start=\"1260\" data-end=\"1299\">Step 4: Verification and Submission: <\/strong><\/span>After filling out the details, click &#8220;Proceed to e-Verify&#8221;. we have to Choose one of the verification methods: DSC (for corporate taxpayers or required cases). or\u00a0Electronic Verification Code (using Aadhaar OTP or net banking).<\/p>\n<p data-start=\"1583\" data-end=\"1626\"><span style=\"color: #000080;\"><strong data-start=\"1587\" data-end=\"1626\">Step 5: Confirmation and Filing ITR : <\/strong><\/span><span style=\"font-size: 16px;\">After successful submission, <\/span><span style=\"font-size: 16px;\">a confirmation message and acknowledgment number<\/span><span style=\"font-size: 16px;\"> will be generated.\u00a0<\/span><span style=\"font-size: 16px;\">Ensure Form 67 is submitted before filing your ITR<\/span><span style=\"font-size: 16px;\">, or else your <\/span><span style=\"font-size: 16px;\">FTC claim may be denied.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"FTC_claim_process_supports_services\"><\/span><span style=\"color: #000080;\"><strong data-start=\"299\" data-end=\"328\">FTC claim process supports services.\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p data-start=\"0\" data-end=\"281\">Form 67 plays a crucial role in preventing double taxation by allowing taxpayers to claim Foreign Tax Credit. Since the correct filing of Form 67 is essential for availing Foreign Tax credit, missing deadlines or incorrect submissions can lead to loss of tax credits.<\/p>\n<p data-start=\"0\" data-end=\"281\">The FTC claim process is complex, &amp; also looking forward to hiring a CA who can help ensure:<\/p>\n<ul>\n<li data-start=\"0\" data-end=\"281\">Timely &amp; error-free filing of Form 67<\/li>\n<li data-start=\"0\" data-end=\"281\">Proper documentation &amp; compliance with Rule 128<\/li>\n<li data-start=\"0\" data-end=\"281\">Maximizing your tax savings while avoiding double taxation<\/li>\n<\/ul>\n<p>We can assist in Foreign Tax Credit calculation, Form 67 filing, or a tax consultation for your international income.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ITAT Chandigarh Order Assessee Regarding FTC not be denied merely on procedural lapses if substantive conditions are met. Income Tax Appellate Tribunal Chandigarh in the case of Ashish Sood vs. DCIT (order dated 23.04.2024) ruled in favor of the assessee regarding the foreign tax credit claim. foreign tax credit should not be denied merely on &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120],"tags":[10236],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/28848"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=28848"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/28848\/revisions"}],"predecessor-version":[{"id":28851,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/28848\/revisions\/28851"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=28848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=28848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=28848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}