India’s Income Tax Department amended the Foreign Tax Credit (FTC) rule, allowing retrospective benefits for claims filed in the current financial year. The amendment permits filing Form 67 until the end of the relevant assessment year. The FTC allows residents to offset Indian tax liabilities with taxes paid abroad to avoid double taxation. Taxpayers must meet residency criteria and provide a Tax Residency Certificate (TRC) to claim treaty benefits. Form 67 must be submitted online with supporting documents and verified electronically. NRIs can claim relief under Double Taxation Avoidance Agreements (DTAA) or Section 91 for taxes paid in non-treaty countries.
