Go AD-Free with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

Tax audit requirement for overseas branch.

369 views

Save Share

Rajeev Yadav

53 Points Posted on 18 September 2023

assessee opened a branch in Dubai and sent around rs 9 lakhs for office expenses. same were recorded in office expenses.
No other separate accounts were maintained. he maintained one single consolidated accounts.

what are the tax audit requirement for this considering assessee is an individual?

Replies (2)

Quick Summary

An individual has opened a branch in Dubai and remitted Rs 9 lakhs for office expenses, recorded in consolidated accounts. This discussion explores the tax audit requirements for such an overseas branch, clarifying whether the remittance is considered taxable income and how to navigate potential tax refunds.