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Tax deducted in USA
Is filing form 67 along with ITR enough to get refund of tax deducted in USA ?? Suppose in USA tax deducted Rs 60000/- whereas tax liability is nil in India and in USA there is no tax liability also?? Thanks
Replies (3)
Quick Summary
Yes. form 67 is enough and ITR should be filed before due date. make sure to file the form before the end of the assessment year.
As per us laws
Claiming credit for US tax:
• Filing Form 67 (by the ITR due date or belated date) is necessary to claim foreign tax credit (Rule 128). Indian FTC isn't a refund of US tax. It reduces your Indian tax on that foreign income, up to the Indian tax payable on it.
• If US tax exceeds Indian tax on that income, the excess isn't refunded in India. You may get a US refund by filing a US return (if over-withheld).
• If you were non-resident in India for that year, US income isn't taxable in India, so no FTC is needed.
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