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Tag: International taxation

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Foreign Tax Credit rules in India

The foreign tax credit is a non-returnable tax credit for a foreign government’s income taxes due to foreign income tax withholdings. The foreign tax credit is accessible to anyone who either works in a foreign country or has investment income from a foreign source. The foreign tax credit is a tax break presented by the

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India Briefing India US sign pact for exchange of CbCs 1

India-US agreement for Country by Country reporting

India and United States of America signed an inter- governmental agreement for exchange of country- by –country (CbC) reports on March 27, 2019. This enabled both the countries to exchange CbC reports filed by the ultimate parent organizations of multinationals in respect of jurisdictions, pertaining to the years commencing on or after January 1, 2016.

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