Mr X has made sales to bangladesh amounting to Rs. 1Cr.
TDS done in bangladesh -20 lakhs.
Total income of Mr X at end of the year is loss of (1,00,000).
In this case, Is Mr. X is eligible to get refund of TDS deducted in Bangladesh in any way ?
Menu
FTC and refund.
Replies (2)
Tax deducted in Bangladesh can be claimed as refund as per the provisions of Bangladesh income tax and not as per indian income tax.
However Foreign Tax credit can only be claimed as credit in the year in which such income has been offered to income tax in India.
However Foreign Tax credit can only be claimed as credit in the year in which such income has been offered to income tax in India.
Therefore the TDS deducted in bangladesh will lapse(as mentioned there is loss in current year )..and its a loss of income to indian company right ?
Recent Topics :
- Register on Income Tax as CA
- Deduction In Employee Provident Fund
- This is a gift for all Chartered Accountants and P
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Wallet query for GST.
- 25-26 exempted sales
- Hotel stay below Rs.1000/- GST applicable or exemp
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Generate E-Way Bill for 4 Nos. Suppliers Involveme
- Section 54F Exemption
Related Topics :
CAclubindia
