Thank you. Let me know if you have an answer.
I paid tax to India when I filed the Tax return in April 2023 (Their tax cycle is from April 1st of each year to March 31st of next year - The taxes I paid was for interest, dividend, and capital gain income from April 1st of 2022 through March 31st of 2023). I have also paid the taxes for the same income to US . Looks like the system for claiming credit is setup in such a complex way, the tax payer at the end pays double tax!!!!.
When I tried to claim credit, Turbo tax asks how much of the foreign tax paid is from dividend, how much is from interest, capital gains....etc., . From a tax perspective, after all applied tax credits, adjustments...etc., by the Indian tax structure, it is impossible to segregate how much of the total tax paid to India was related to interest income, how much from dividends, capital gains....etc.,
Hence, the question was posted.
