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I-T Dept Allows Taxpayers More Time To Claim Credit For Taxes Paid Outside India

Business oi-PTI | Published: Saturday, August 20, 2022, 9:02 [IST] The income tax department on Friday said taxpayers can claim credit for taxes paid outside India before the end of the assessment year if the I-T return is filed within the stipulated deadline. So far, Foreign Tax Credit (FTC) could have been claimed only if …

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I-T dept allows taxpayers more time to claim credit for taxes paid abroad

The income tax department on Friday said taxpayers can claim credit for taxes paid outside India before the end of the assessment year if the I-T return is filed within the stipulated deadline. So far, Foreign Tax Credit (FTC) could have been claimed only if Form- 67 along with necessary documents were …

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Corporate tax collection soars 34% between April and July: I-T dept

The Income-tax department on late Friday said that tax collections from corporates soared 34 per cent in first four months of the fiscal over that in the equivalent period in 2021-22, indicating that the “simplified tax regime with low rates and no exemptions” has lived up to its promise, the department said. …

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