NRIs getting income tax notices for claiming lower tax rate benefit under DTAA; Know how to resolve this situation
Many NRIs using Double Taxation Avoidance Agreement (DTAA) are getting Income Tax notices for claiming benefit of lower or ...
Tax Guru1h
Rule 128(9) Does Not Bar FTC Claims Due to Delayed Form 67 Filing: ITAT Kolkata
On perusal of the Intimation order u/s 143 (1) of the Act dated 01.12.2023, it is observed that the claim of tax relief of Rs.34,09,987/- Under Section 90/90A of the IT Act was disallowed.
Samsung says 'exploring legal options' on $601-million India tax demand
The demand represents a substantial chunk of last year's net profit of $955 million for Samsung in India, as per a Reuters ...
Can I exercise my employee stock options from an NRO account?
The exercise price of ESOPs is the predetermined cost at which an employee can buy company shares when exercising their ...
CBDT clarifies exemptions from principal purpose test in double taxation avoidance agreements
India's Central Board of Direct Taxes (CBDT) has clarified that exemptions from the Principal Purpose Test (PPT) under some ...
Tax Guru16d
Income Tax Rule 128 for claiming foreign tax credit is directory in nature: ITAT Pune
In its ruling, the ITAT Pune concluded that the provisions of Rule 128 (9) are directory, not mandatory, aligning with judicial precedents emphasizing the supremacy of DTAA provisions in cases of ...
ITAT rules in Shah Rukh Khan's favor: Foreign tax credit rule in India
Khan's UK earnings were taxed in the UK, and India's DTAA with the UK allowed him to offset this tax against his Indian liability. The ITAT ruling upheld this right, preventing unfair double taxation ...