International Taxation FTC
This query is : Resolved
17 January 2011
Dear Sir,
Here is the complete detail as required
The assessee is resident in US as well as India. He has income from Salary, Capital Gain and Interest in US. Further he has salary from Indian company also. While filing US Tax Return, he availed FTC on Taxes paid on Salary Income in India. Now in India, the US Interest and Capital gain is being taxed again.
Whether he can avail FTC for taxes paid in US on Capital Gain and Interest Income. As per DTAA we have not shown the US Salary income in Income Tax computation in India. The return is not yet filed in India.
Kindly clarify. Please give reference to any section, case law or any provision in this regard if possible.
Here is the complete detail as required
The assessee is resident in US as well as India. He has income from Salary, Capital Gain and Interest in US. Further he has salary from Indian company also. While filing US Tax Return, he availed FTC on Taxes paid on Salary Income in India. Now in India, the US Interest and Capital gain is being taxed again.
Whether he can avail FTC for taxes paid in US on Capital Gain and Interest Income. As per DTAA we have not shown the US Salary income in Income Tax computation in India. The return is not yet filed in India.
Kindly clarify. Please give reference to any section, case law or any provision in this regard if possible.
18 January 2011
FTC on any source of income is acceptable and claimable in other country.
kindly provide the complete facts for deciding the course of action.
Anuj
9810106211
kindly provide the complete facts for deciding the course of action.
Anuj
9810106211
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21 January 2011
Please clarify
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