Form 67

Relevant Statute:

• Section 90 and Section 91 of the Income-tax Act, 1961
• Rule 128 of the Income-tax Rules, 1962

Legal Provision:

• Applicable to a resident assessee eligible for foreign tax credit under Rule 128.
• Filed when foreign tax has been paid or deducted on income earned in a foreign country or specified territory and offered to tax in India.
• Also required when a carry-back of current-year loss results in a refund of foreign tax for which credit was claimed in earlier years.
• Credit is allowed only upon furnishing a statement of foreign income and foreign tax paid or deducted in Form 67 .

Applicable for:

• All resident assessees

Effective from:

• Form 67 was introduced by the Income-tax (18^th Amendment) Rules 2016, w.e.f. 01-04-2017.

Pre-requisite while filing the form:

• Not applicable

Due Date:

• On or before the end of the relevant assessment year, provided the return of income has been filed under section 139(1) or section 139(4).
• For updated returns under section 139(8A), Form 67 must be filed on or before the date of furnishing the updated return.

How to file it

• Form no. 67 is to be filed online at https://www.incometax.gov.in/iec/foportal/
• Form shall be verified either under digital signature.