Foreign asset schedules missing in revised ITR after filing ITR-1/4? I-T dept explains solution

Many taxpayers revising their Income Tax Returns this year are hitting an unexpected snag. Details of foreign assets or ...
AOL

Foreign Tax Credit: A Guide to Reducing Double Taxation on Foreign Income

If you’re a United States citizen working in another country, chances are you’ll still have to file a federal income tax return. You may even have to pay taxes on your earnings. Needless to say, ...
JD Supra

The Foreign Tax Credit

U.S. taxpayers are generally taxed on their worldwide income. But what happens when that income is also taxed by another country? The Internal Revenue Code’s primary mechanism to alleviate this double ...

Filed ITR-1 or ITR-4 but now can’t find schedule foreign assets' information in revised form, here’s what you should do

Many taxpayers face issues with missing foreign asset and income details in revised Income Tax Returns. If a taxpayer has any ...
Investopedia

Foreign Tax Credit: Definition, How It Works, Who Can Claim It

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Janet Berry-Johnson is a CPA with 10 years of experience in public accounting and writes ...
JD Supra

Foreign Earned Income Exclusion

U.S. citizens and resident aliens who live abroad are taxed on their worldwide income. But such taxpayers may qualify for the foreign earned income exclusion, which allows certain taxpayers to exclude ...
Nasdaq

How to Use the Foreign Tax Credit to Offset AMT

The foreign tax credit can help mitigate the impact of the alternative minimum tax (AMT) for taxpayers with income taxed abroad. While the AMT limits certain deductions and credits, it does allow a ...
India Today on MSN

Having undisclosed foreign income? Why is CBDT urging taxpayers to review ITRs

The CBDT has launched the second NUDGE campaign, contacting taxpayers who have not disclosed foreign income or assets, and ...
Tax Guru

ITAT Confirms FTC Allowance Under Section 90/91 for Investments Held Abroad

ITAT upheld deletion of ₹3.31 crore addition under Section 69, noting full disclosure of foreign assets and sufficient income. Revenue cannot levy additions where investments are legitimate and ...
The Heritage Foundation

Treasury’s Unjustifiable New Foreign Tax Credit Rules Will Cause Double Taxation

Preston is a Research Fellow for tax policy in The Heritage Foundation’s Grover M. Hermann Center for the Federal Budget. New IRS regulations require foreign income taxes to adhere more closely to U.S ...
Forbes

U.S. Tax: 4 Tips For Americans Receiving A Foreign Inheritance

Forbes contributors publish independent expert analyses and insights. Admitted NY Bar and US Tax Court, covers US international tax law. While an American may feel a mix of joy and sorrow when ...
Forbes

Offshore Investments, U.S. Tax Traps: What Every American Must Know

Forbes contributors publish independent expert analyses and insights. Admitted NY Bar and US Tax Court, covers US international tax law. Foreign investments can be a minefield for American investors ...