@sanbachu , assuming that you are a US person ( citizen/GreenCard/ Resident for Tax purposes ),
(a) you would have reported your foreign ( India ) interest earnings just as if you had a 1099-INT --- obviously you will have to leave the FEIN field blank;
(b) entered all your other incomes as is normal and by category.
(c) under deductions and credits you have to tell TubroTax that you have foreign tax credit to claim--- this would trigger an interview asking for the details about the foreign taxes paid and whether you want credit or deduction.
( d) If you choose credit and the total amount of foreign taxes is at or below the safe harbor amount ( $300 for a single filer and $600 for a MFJ ) then it will allow you to choose simplified method, no form 1116 and allow a full credit ( up to the applicable safe harbor amount).
(e) Note that this foreign tax credit is a non-refundable credit i.e. it only reduces your tax liability ( not below zero ). So if your tax liability for the year is already zero, there will be no effect of this credit.
Does this answer your situation or am I in the left field?
Is there more I can do for you ?
Namaste ji
pk
