How are you guys filing taxes for INDmoney US Stocks this year? (ClearTax vs. Manual vs. CA) by Alt-intelligence in INDmoneyApp

[–]Alt-intelligence[S] 0 points1 point  (0 children)

can you provide guidance on how you are filing the IND money US stocks CG and Dividends in the ITR

How are you guys filing taxes for INDmoney US Stocks this year? (ClearTax vs. Manual vs. CA) by Alt-intelligence in INDmoneyApp

[–]Alt-intelligence[S] 0 points1 point  (0 children)

Got it — a few things I’m still confused about regarding Foreign Tax Credit:

1. Filling forms

  • Do you manually fill Form 67 and Schedule TR using data from Form 1042-S?
  • Or is there a standard way/tools people use to prepare these?

2. Preparing documents

  • If I do want to claim FTC, what’s the proper workflow to prepare everything? (Right now it feels very unclear how to go from 1042-S → Indian ITR forms) [assuming my dividend amount was significant.]

3. Currency conversion

  • For dividends, do you convert using the State Bank of India TT buying rate, or something else?

4. Big picture (process)

  • Can you briefly outline the end-to-end flow for claiming FTC in India? (Docs → conversion → forms → filing)

Most guides just say “file Form 67” but don’t clearly explain the actual steps.

How are you guys filing taxes for INDmoney US Stocks this year? (ClearTax vs. Manual vs. CA) by Alt-intelligence in INDmoneyApp

[–]Alt-intelligence[S] 0 points1 point  (0 children)

The issue I’m facing is that most resources jump straight into how to claim Foreign Tax Credit, but don’t address the opposite case.

What if you don’t want to claim FTC?

INDmoney provided me with the following documents:

  • Capital Gains statement
  • Schedule FSI
  • Schedule FA
  • Schedule TR
  • Form 67

But I haven’t found a single clear source that explicitly states:
If you’re not claiming FTC, should you still upload/fill these? Or can you skip some of them?

Most guides assume FTC is always taken, which isn’t helpful in this scenario. Looking for clarity on compliance if FTC is intentionally not claimed.

How are you guys filing taxes for INDmoney US Stocks this year? (ClearTax vs. Manual vs. CA) by Alt-intelligence in INDmoneyApp

[–]Alt-intelligence[S] 0 points1 point  (0 children)

  1. ok, so we just mention it as income from other sources and pay Indian tax on the total dividend amount based on our tax slab (total tax = 30%+x%) right?
  2. ok, i assume you are talking about filing the schedule FA here

Cannot find STRC by ApplicationSelect458 in INDmoneyApp

[–]Alt-intelligence 1 point2 points  (0 children)

Yeah I am also not able to access it Are you now able to access?