Early ITR filing date, late foreign tax info: How FTC rule and global timeline mismatch hurts ROR taxpayers - what Budget 2026 must fix

Resident and Ordinarily Resident (ROR) taxpayers with foreign income face challenges due to the December 31 deadline for revised and belated Indian Income Tax Returns (ITRs). This clashes with overseas tax finalization dates, forcing provisional foreign tax credit (FTC) claims, leading to disputes and refund delays. Budget 2026 must address this timing mismatch to improve accuracy and ease compliance.

from Tax-Wealth-Economic Times https://ift.tt/sNIxUWG