LOSS ABROAD CAN BE SET OFF FROM TAXABLE INCOME IN INDIA ..!

Last updated: 20 August 2007

A large number of Indian companies have set up offices outside India. The profits or losses of such offices are liable to be taxed in the foreign country. But how such profits or losses should be treated in India is a vexed question. A recent judgment of Pune Tribunal clarifies the legal position in favour of the assessee. An Indian company engaged in computer software business set up a trading office in Japan. The company’s Japan branch suffered loss, which it claimed as deduction from profits
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CA.Saibaburao Nanduri

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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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