Indian resident deriving foreign income - interpretation of the ...

Income Tax

November 12, 2023

Indian resident deriving foreign income - interpretation of the expression “may be taxed” - Once the tax is payable or paid in the country of source, then country of residence is denied of the right to levy tax on such income or the said income cannot be included in return of income filed in India, would no longer apply after the insertion of provision of sub-section (3) of section 90 w.e.f. 1st April, 2004, i.e. Assessment Year 2004-05. - AT

View Source

← Previous Next →

Indian resident deriving foreign income - interpretation of the ...

Income Tax

November 12, 2023

You may also like:

Insertion of new Chapter XII-BC- Foreign company said to be resident in India - where a foreign company is said to be resident in any previous year and such foreign...

Sikim Income Tax Rules, 1948 versus Indian Income Tax Act, 1961 - Since the assessee was not resident within the territories comprised in the of State of Sikkim, the...

Income accrued/taxable in India - Tax Resident - The assessee before us is certainly an Indian national, but he is admittedly resident in the UAE so far as his...

Income accrued in India - income from rented properties held by the appellant in Australia and UK - right of the resident country to tax its residents - the expression...

Duty of AO to Guide the Assessee - Considering the specific facts on record that the assessee is non resident the amount which the ld. AO has taxed is earned and sourced...

Exemption from tax under Section 115-O - Tax on distributed profit / Dividend Tax - Once it is held that the amount distributed or paid by Petitioner by way of dividend...

Amendment of section 197. - Scope extended - where, in the case of any income of any person or sum payable to any person, the income-tax is required to be deducted at...

Wealth Tax Liability - Whether Club can be treated as "Association of Person"? - Charging provisions under the Income Tax versus under the Wealth Tax - This argument of...

Competition Commission of India (Determination of Turnover or Income) Regulations, 2024 - (1) Turnover or income for enterprises includes the value of sales, revenue, or...

Claim for refund of the taxes paid abroad, by the Indian tax authorities - No part of the income earned abroad had actually suffered tax in India, relief under section...

Taxability of dividend as declared, distributed or paid by a domestic company to a non-resident shareholder(s) which attracts Additional Income Tax (Tax on Distributed...

Tax planning versus Tax evasion - The Assessing Officer cannot disregard a transaction just because it results in a tax advantage to the assessee. Just as much as we...

Income Taxes - Ind AS-12 of the Companies (Indian Accounting Standards) Rules, 2015 as amended

Interest u/s 234C - interest for deferment of advance tax - If on a particular due date for payment of advance tax, the facts show that there is no liability to pay...

Foreign Tax Credit u/s. 90 - Assessee did not file Form 67 at the time of filing of her return of income - Referring to established case law, the Tribunal affirmed that...

Quick Updates: