Can I revise Form 67 - Foreign Tax Credit (after the due date)

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Ashish (Querist)
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21 February 2022 Can I revise Form 67 - Foreign Tax Credit (after the tax due date)?

- For FY2020, I had worked in USA and consequently claimed FTC while filing Indian taxes(tax was filed before due date) along with filing Form 67.
-Now I need to revise my taxes since I missed out reporting some income. Tax consultant is saying that since Form 67 also needs to be revised, AO can reject it stating that revised Form 67 is filed after due date(even though the original was filed within due date).
- I read in many places that AO frequently rejects FTC if filed after due date citing IT laws, but Bangalore ITAT(Ms. Brinda RamaKrishna vs ITO (ITA No. 454/Bang/2021)) has said that filing of Form 67 after due date should not result in denial of FTC.

Can someone pls advise if quoting this case will have any effect on the AO as my tax consultant is pretty positive that AO will reject the FTC.

Thanks

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 February 2022 Form 67 is a pre-requisite document that has to be furnished in order to claim FTC by a taxpayer. It is also essential that it be furnished before tax return is filed. One can file revised Form 67 prior to filing the revised tax return in order to incorporate the changes in both the documents.

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