Pune ruled that while Form 67 was filed late, it was available with CPC at the time of processing the return. The tribunal held that filing Form 67 within the due date is a procedural requirement ...

The Income Tax Appellate Tribunal (ITAT) Pune ruled in favor of Preeti Das, allowing her Foreign Tax Credit (FTC) claim despite the late filing of Fo ...

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 ...

IRS denies that OFL recapture overrides gain recognition rules Liberty Global claims double taxation on foreign sale gains A Tenth Circuit judge expressed wariness Monday of Liberty Global Inc.'s ...

Shah Rukh Khan has secured a crucial legal victory as the Income Tax Appellate Tribunal (ITAT) ruled in his favour, dismissing reassessment proceedings for 2011-12. The decision underscores the ...

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. Listen to Story ...

In the litigation over his income-tax return, the tax officer argued that Khan’s declared income of Rs 83.42 crore for the assessment year 2012-13, rejecting his claims for foreign tax credit (FTC) ...

Proper tax compliance can help you avoid legal disputes and ensure you benefit from Foreign Tax Credit (FTC) provisions. A recent case involving a Bollywood actor highlights how accurate tax reporting ...

The humiliation of Ukraine. What is going on with U.S. foreign policy? Some see it as driven by President Trump’s personal greed or fondness for dictators. Both might ring true, but neither ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation ...

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 ...