Foreign Tax Credit (‘FTC’) shall be allowed if evidence & undertaking furnished within 6 months of dispute settlement

Rule - 128 - Foreign Tax Credit

FTC benefit in respect of disputed tax shall be allowed, if the assessee within 6 months from the end of the month in which the dispute is finally settled, furnishes

a.       evidence of settlement of dispute and

b.      evidence to the effect that the liability for payment of such foreign tax has been discharged by him and

undertaking that no refund in respect of such amount has directly or indirectly been claimed or shall be claimed.

Dated: 30-6-2016