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Form 67 Income Tax

Aryan (Sr. Accountant) (242 Points)

18 October 2021

Dear Expert,

I want to know about Form 67 of Income Tax.

We have withholding tax certificate from countries with DTAA, but we have not filed form 67 on income tax. My question is can we claim income tax refund or adjust with tax liability from withholding tax certificate or department will refuse to give them.

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6 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 18 October 2021

If DTAA is applicable then refund can be claimed

Aryan (Sr. Accountant) (242 Points)
Replied 18 October 2021

You have not answered my question, I want to know about Form 67 of Income Tax?

jagdish chhugani (engineer) (736 Points)
Replied 19 October 2021

Documents required to be furnished for claiming FTC

In accordance with Rule 128, in order to claim FTC, the taxpayer is required to file the following documents on or before due date of filing of return:

1. A statement of :

foreign income offered to tax
foreign tax deducted or paid on such income in Form No. 67

2. Certificate or statement specifying the nature of income and the amount of tax deducted therefrom or paid by the taxpayer :

From the tax authority of the foreign country
from the person responsible for the deduction of such tax
signed by the taxpayer

3. Proof of payment of taxes outside India.

What is Form 67?

Form 67, as mentioned above, is a crucial document that has to be furnished in order to claim FTC by a taxpayer. It is also essential that it be furnished on or before the due date of filing return of income under section 139(1) i.e. the original return of income.

Procedure for filing Form 67

The CBDT, vide notification no. 9/2017 dated 19 September 2017 has prescribed the procedure for filing Form 67 which have been enumerated here:

Form 67 is to be prepared and submitted online for taxpayers who are mandated to file their income tax returns electronically;
This form is available on the e-filing portal of the income tax department in the taxpayer’s account.
Digital Signature Certificate (DSC) or Electronic Verification Code (EVC) is mandatory to submit Form 67
Submission of Form 67 shall precede the filing of return of income

Filling and submission of Form 67

Form 67 shall be available to all the taxpayers’ logins. The taxpayer is required to login into the e-filing portal using their valid credentials. A link for filing the form has been provided under “E-file-Prepare and submit online forms (Other than ITR)”
Select Form 67 and the AY from the drop-down.
Instruction to fill the form is enclosed along with Form 67. You can submit the completed form 67 by clicking on the ‘submit button. You can also save the form filled as a draft so that you can make some changes later and then submit it.

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 02 November 2021

Thank you Jagdish ji

CA CS Ravi Jaiswal (Working) (208 Points)
Replied 09 November 2021

Relief will be disallowed incase form 67 is not filed on or before due date of filing original return

debora M (BUSINESS DEVELOPMENT MANAGER) (1697 Points)
Replied 17 November 2021

Form 67 is to be prepared and submitted online for taxpayers who are mandated to file their income tax returns electronically; This form is available on the e-filing portal of the income tax department in the taxpayer's account. Unlike I-T laws, which allow a taxpayer to revise his ITR or file a late return, there is no provision that allows filing Form 67 late or revising it, in case any correction is required in the amount/other information relating to foreign tax credit.