The foreign tax credit can help mitigate the impact of the alternative minimum tax (AMT) for taxpayers with income taxed abroad. While the AMT limits certain deductions and credits, it does allow a ...

Liberty Global Inc. is headed to federal appeals court Monday over the tax treatment of gains from its $3.25 billion foreign ...

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 ...

A Bollywood actor wins a major tax case on Foreign Tax Credit (FTC). Learn how FTC works, key legal takeaways, and how to ...

Shah Rukh Khan has secured a crucial legal victory as the Income Tax Appellate Tribunal (ITAT) ruled in his favour, ...

Khan had declared an income of Rs 83.42 crore in his tax return, but the tax officer reassessed it as Rs 84.17 crore and denied him foreign tax credit (FTC) for taxes paid in the UK.

Actor Shah Rukh Khan has won a significant victory against the Income Tax authorities in his dispute over foreign tax credit ...

Hancock Life Insurance Company, F.4th 729 (11th Cir. 2024) that certain foreign tax credits that were generated as a result of 401(k) plan investments in separate accounts owned by John Hancock ...

Additionally, if you plan to apply for the Additional Child Tax Credit or contribute to an IRA, this exclusion could disqualify you! An alternative to the Foreign Earned Income Exclusion is the ...

Additionally, to the extent that China may offer tax credits to Chinese residents with ... the Administration's strengthened stance against foreign governments imposing discriminatory taxes ...

Income Tax Appellate Tribunal (ITAT) Hyderabad adjudicated the case of Baburao Atluri vs. DCIT, addressing the denial of Foreign Tax Credit (FTC) due to a delay in filing Form 67. The assessee, ...

America is losing a diplomatic tool the government has relied on for decades. By Jeffrey Gettleman Foreign aid isn’t just charity. It’s power. That was the original idea behind the United ...