Hi,
My client has received notice 142(1) asking for information regarding foreign tax credit claimed in the return for A.Y. 2017-18. He claimed it in the return in India but then filed US return and received refund from US. But he didn't show this refund in the indian ITR in subsequent years. Now he wants to pay taxes on it. Revised return can't be filed now for A.Y. 2017-18. Also, i think rectification also not possible in this case. Is there any way to pay taxes before IT officer levies penalties and interest for it?
CAclubindia
