Query on taking FTC relief on dividends received in January23 to March23
This query is : Resolved
Quick Summary
NIRAJ SHAHA
(Querist)
21 July 2023
I have a few shares of US listed company received as RSU. I have received a dividend of $28.71 (credited $21.53 and tax withheld $7.18) in February-2023.
The form 1042-S for calendar year 2022, talks about the dividend and tax withheld for the month April-22, July-22 and October-22. Hence, I have proof in order to claim FTC relief on this.
However, my query is, when do we need to disclose the dividend received in February-2023, in AY 2023-24 or in AY 2024-25?
If we need to disclose in AY 2023-24, how can we claim a FTC relief on the tax withheld on dividend received in February-2023?
The form 1042-S for calendar year 2022, talks about the dividend and tax withheld for the month April-22, July-22 and October-22. Hence, I have proof in order to claim FTC relief on this.
However, my query is, when do we need to disclose the dividend received in February-2023, in AY 2023-24 or in AY 2024-25?
If we need to disclose in AY 2023-24, how can we claim a FTC relief on the tax withheld on dividend received in February-2023?
CA R SEETHARAMAN
(Expert)
21 July 2023
You need to disclose the dividend received in February-2023, in AY 2023-24.
Claim tax relief on the amount deducted.
Claim tax relief on the amount deducted.
NIRAJ SHAHA
(Querist)
21 July 2023
Thank you Sir, for your reply.
What document shall I upload as an evidence for the Tax Withheld in February-2023, while filing Form67?
What document shall I upload as an evidence for the Tax Withheld in February-2023, while filing Form67?
CA R SEETHARAMAN
(Expert)
21 July 2023
You can request for TDS deduction statement online.
NIRAJ SHAHA
(Querist)
21 July 2023
I did check for the same with USA authorities, but, reply was "We provide tax withheld certificate as per USA Fiscal year (i.e. Calendar year).
NIRAJ SHAHA
(Querist)
21 July 2023
I did check for the same with USA authorities, but, reply was "We provide tax withheld certificate as per USA Fiscal year (i.e. Calendar year).
CA R SEETHARAMAN
(Expert)
22 July 2023
In such a case disclose the income in AY 2024-25.
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