@taxfiler18 , for US purposes, if the transaction ( the disposal of an asset ) took place in calendar year 2022, then you recognize the taxes accrued / paid on your tax filing for the year 2022. If the final amount ( because I though India collects the estimated tax at source ) is different than the amount withheld at source, then you may have to file an amended return to reconcile the difference. I suspect though that in your particular case the final amount has been already settled ( it is now 2023 October ).
Note though that because India uses an indexing scheme to adjust the basis of the asset, the gain for Indian tax purposes may be very different than that for the US ( there is no indexing of basis in the US ). For form 1116 ( foreign tax credit ) you need to use the US gain as the foreign source income and the Indian taxes levied/paid on that .
Does this make sense ? Is there more I can do for you ?
pk
