TaxBuzz – Refund and Deduction of Foreign Taxes in India March 23, 2021
Published in: TaxBuzz
DISCLAIMER: The material contained in this publication is solely for information and general guidance and not for advertising or soliciting. The information provided does not constitute professional advice that may be required before acting on any matter. While every care has been taken in the preparation of this publication to ensure its accuracy, Vaish Associates Advocates neither assumes responsibility for any errors, which despite all precautions, may be found herein nor accepts any liability, and disclaims all responsibility, for any kind of loss or damage of any kind arising on account of anyone acting/ refraining to act by placing reliance upon the information contained in this publication.
We are pleased to share with you a copy of our in-house publication – “TaxBuzz…”, wherein we have analysed the recent decision of the Tribunal in the case of Bank of India denying the claim of refund of taxes paid outside India, in absence of tax liability in India on such foreign sourced income. The Tribunal, further, allowed the alternate claim of the taxpayer of deduction of such foreign taxes, as business expenditure.
Various facets of the claim of foreign taxes have been examined threadbare in this well-reasoned and comprehensive decision passed by the Tribunal.
To read the TaxBuzz, click at the ‘Download Newsletter.
We trust that you will find the same useful.
Looking forward to receiving your valuable feedback.
For any details and clarifications, please write to:
Mr. Neeraj Jain, Partner : [email protected]
Mr. Aditya Vohra, Principal Associate : [email protected]