Claiming FTC for AY 2022-23 by filing revised Form 67.

This query is : Resolved

J M R BASKER (Querist)
Follow

23 February 2023 Facts : Filed Form 67 and ITR 2 for AY 2022-23 well before the due date. But while filing both Form 67 and ITR 2, FTC was claimed U/s.90 instead of Sec.91. (For Jamaica, there is no DTAA. Please correct me if I am wrong).
Query : CPC has not allowed the FTC, 143(1) intimation received. Can I file rectification U/s.154 after filing a revised Form 67?
Thanks & Regards.

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
Follow

06 July 2024 Yes, you can file a rectification under Section 154 of the Income Tax Act after filing a revised Form 67. Here's how you can proceed:

1. **Correct the Form 67:**
- File a revised Form 67 with the correct details, specifically claiming Foreign Tax Credit (FTC) under Section 91 instead of Section 90, if applicable. Ensure all other details are accurate and updated.

2. **Rectification under Section 154:**
- After filing the revised Form 67, you can file for rectification under Section 154 to correct the mistake in claiming FTC under the wrong section in your original Form 67 and consequently in your ITR 2.
- Use the online portal of the Income Tax Department to submit a rectification request. Select the option relevant to the type of mistake (in this case, claiming FTC under the incorrect section).
- Provide all necessary details and upload supporting documents, including the acknowledgment of the revised Form 67.

3. **Process and Response:**
- The Income Tax Department will process your rectification request. If they find the rectification valid and the correction justified, they will issue a revised intimation under Section 154 rectifying the mistake.
- Make sure to monitor the status of your rectification request through the online portal to track any updates or requirements from the department.

By following these steps, you can rectify the mistake in claiming FTC under the wrong section and ensure compliance with the correct provisions of the Income Tax Act regarding Foreign Tax Credit.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA.Pinank Arvindbhai Shah

Nayan shetty

madhu sudan

velichety.l.narasimharao

SANJAY GOSALIA

Subscribe Now

Claiming FTC for AY 2022-23 by filing revised Form 67.

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA