Foreign Tax Credit (Form 67)

Relief for taxes paid abroad on doubly-taxed income — the credit is the lower of the foreign tax paid and the Indian tax on the same income.

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Inputs

Foreign income offered to tax in India (₹)

Foreign tax paid (₹)

Indian effective tax rate on this income (%)

Foreign tax credit

₹0

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Working

Indicative. Under Rule 128, FTC is the lower of the foreign tax paid and the Indian tax payable on that income, computed source-by-source. Form 67 must be furnished on or before the end of the relevant assessment year. Surcharge/cess and DTAA-specific rules may alter the figure. Confirm treaty positions.