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MINISTRY OF FINANCE (Department of Revenue) [CENTRAL BOARD OF DIRECT TAXES] NOTIFICATION New Delhi, the 18th August, 2022 INCOME-TAX G.S.R. 636(E).In exercise of the powers conferred by clause (ha) of sub-section (2) and subsection (4) of section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. Short title and commencement. (1) These rules may be called the Incom
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FAQ :
The Income-tax Rules, 1962, have been amended to allow foreign tax credit claims even when Form 67 is filed after the original deadline.
These amendments are deemed to have come into force from 1st April 2022.
The amendments were made by the Central Board of Direct Taxes (CBDT) under the Ministry of Finance.
Form 67 is a statement required for claiming foreign tax credits.
If an updated return is furnished under section 139(8A), Form 67 must be filed on or before the date the updated return is furnished, to the extent it relates to the income included in that return.
The amendment is effective from 1st April 2022 and applies to claims furnished during the financial year 2022-2023. It is certified that no person is adversely affected by giving retrospective effect.
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