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Foreign Tax Credit

Income Tax Rules Amended to allow Foreign Tax Credit even with Delayed filing of Form 67 [Read Notification]

Taxscan Team

The Central Board of Direct Taxes (CBDT) has notified the Income-tax (27thAmendment) Rules, 2022 and amended rule 128, for sub-rule (9) allowing...

Foreign Tax Credit: Form 67 Shall be filed on or before Income Tax Return Due Date, rules ITAT [Read...

Foreign Tax Credit cannot be denied to Assessee as per Indo-Japan DTAA: ITAT [Read Order]

ITAT allows Foreign Tax Credit to Amarchand & Mangaldas under Indo-Japanese Tax Treaty [Read Order]

ITAT allows Foreign Tax Credit to Taxpayer on Remuneration Income under India-UK Tax Treaty [Read...

Govt Prescribes Procedure to furnish Form 67 to claim Foreign Tax Credit [Read Notification]

The Central Government today prescribed the procedure to be followed to furnish form 67 to claim foreign tax credit under the provisions of the Income Tax Act, 1961. A foreign tax credit (FTC) is...

Gross Receipts are immaterial in Computing Foreign Tax Credit: ITAT Ahmedabad [Read Order]

The division bench of the Ahmedabad ITAT, in Elitecore Technologies Private Limited v. Dy. CIT held that where assessee-company receives certain amount from its foreign AEs after deduction of tax at...

Foreign Tax Credit available against the Amount of Tax, Surcharge and Cess; CBDT notifies rules [Read Notification]

The Central Board of Direct Taxes (CBDT) issued Notification dated 27th June 2016 incorporating certain amendments to the Income Tax Rules, 1962. As per the notification, Foreign Tax Credit is...

CBDT releases draft rules for grant of Foreign Tax Credit [DOWNLOAD DRAFT RULES]

The Income-tax Act, 1961 (the Act) provides that the Central Board of Direct Taxes may prescribe rules specifying the procedure for grant of relief or deduction of income-tax paid in any country or...