Computation of Foreign Tax Credit (‘FTC’) with respect to doubly taxed income is always a contentious issue. In this regard, CBDT has notified FTC rules which outline the manner and extent to which credit shall be granted. itr-filing-dont-make-these-mistakes-to-avoid-getting-tax-notice-rakesh-nangia

Computation of Foreign Tax Credit (‘FTC’) with respect to doubly taxed income is always a contentious issue. In this regard, CBDT has notified FTC rules which outline the manner and extent to which credit shall be granted. Rakesh Nangia, Managing Partner and Neha Malhotra, Executive Director with inputs from Radhika Arora contributed an article on Foreign Tax Credit – Contemporary Position on Litigious Issues for Taxsutra.

Recently, CBDT issued a public consultation report on attribution of profits to Permanent Establishments (“PEs”) which inter-alia discusses various approaches for attribution of profits to PE. Rakesh Nangia, Managing Partner and Amit Agarwal, Partner with inputs from Anchal Kapoor, Director contributed an piece on CBDT’s three pronged approach to profit attribution – Clarity or Confusion for Corporate Professionals today magazine- Taxmann. Mr Nangia_CPT magazine_21 may, 2019