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ITR2 with Foreign Tax credit- Status and next steps?

Manas Phadke (Senior Consultant) (90 Points)

19 September 2019

Hi All,

I'm looking for some guidance for my colleague who had e-filed ITR2. Currently both are showing status Transferred to AO with the reasons alongwith other details as below

AY- 2018-19

Date of filing- 31 Aug, 2018

Status: Transferred to AO

Reason: Processing of your return has already been initiated by the Jurisdictional AO

AY- 2016-17

Date of filing- 31 Aug, 2018

Status: Transferred to AO

Reason: Credits for tax payments made outside India claimed in the return which cannot be verified by CPC

What are the next steps that can be taken in this matter and how long does it usually take for the assessment to be completed in cases of Foreign Tax Credit?

Regards,

C.A Manas Phadke

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3 Replies

Kapadia Pravin (17259 Points)
Replied 20 September 2019

@ Manas Phadke
As a professional , what is your view. Sir ?

As and when notice comes , you or your representative should visit AO's office and furnish the document proofs to substantiate your Foreign Tax Credits which are claimed in the return

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Manas Phadke (Senior Consultant) (90 Points)
Replied 20 September 2019

Thanks for your reply, I'm not a practicing CA and work in the I.T industry so don't really know how these things work especially when Foreign Tax Credit is involved. Its been more than a year since my colleague filed the returns but hasn't received any notice yet.