23 February 2023
Facts : Filed Form 67 and ITR 2 for AY 2022-23 well before the due date. But while filing both Form 67 and ITR 2, FTC was claimed U/s.90 instead of Sec.91. (For Jamaica, there is no DTAA. Please correct me if I am wrong). Query : CPC has not allowed the FTC, 143(1) intimation received. Can I file rectification U/s.154 after filing a revised Form 67? Thanks & Regards.
06 July 2024
Yes, you can file a rectification under Section 154 of the Income Tax Act after filing a revised Form 67. Here's how you can proceed:
1. **Correct the Form 67:** - File a revised Form 67 with the correct details, specifically claiming Foreign Tax Credit (FTC) under Section 91 instead of Section 90, if applicable. Ensure all other details are accurate and updated.
2. **Rectification under Section 154:** - After filing the revised Form 67, you can file for rectification under Section 154 to correct the mistake in claiming FTC under the wrong section in your original Form 67 and consequently in your ITR 2. - Use the online portal of the Income Tax Department to submit a rectification request. Select the option relevant to the type of mistake (in this case, claiming FTC under the incorrect section). - Provide all necessary details and upload supporting documents, including the acknowledgment of the revised Form 67.
3. **Process and Response:** - The Income Tax Department will process your rectification request. If they find the rectification valid and the correction justified, they will issue a revised intimation under Section 154 rectifying the mistake. - Make sure to monitor the status of your rectification request through the online portal to track any updates or requirements from the department.
By following these steps, you can rectify the mistake in claiming FTC under the wrong section and ensure compliance with the correct provisions of the Income Tax Act regarding Foreign Tax Credit.
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