Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Janet Berry-Johnson is a CPA with 10 years of experience in public accounting and writes ...
The Tribunal found that denial of foreign tax credit during return processing was improper where Form 67 and the return were filed together. The Assessing Officer was directed to verify and allow ...
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 ...
New Delhi: India will implement the Income Tax Act, 2025 from April 1, 2026. Draft Rules 2026 aim to simplify tax filing and ...
ITAT Mumbai allowed foreign tax credit of ₹90,208 despite delay in filing Form 67, holding Rule 128 directory and procedural lapse cannot defeat substantive Sec 90/DTAA ...
Forbes contributors publish independent expert analyses and insights. Matthew Roberts is a tax attorney who covers tax litigation and fraud. Generally, the IRS has three years to select an income tax ...
In December, the Income-tax Department sent SMS and email alerts flagging mismatches in reported income and non-disclosure of foreign assets. This article explains how such information reaches the tax ...
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