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 ...
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 ...
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 ...

Foreign income not in your ITR? Expect a sharp NUDGE from the taxman before December 31

The campaign, formally known as “Non-intrusive Usage of Data to Guide and Enable (NUDGE)”, uses foreign financial information obtained through global data-exchange frameworks to identify mismatches ...
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

Disclosure of ESOPs from a Foreign Parent Company in an Indian Employee’s ITR

Explains the tax treatment and mandatory ITR disclosures for foreign ESOPs, highlighting the need to report shares annually and avoid ...
JournalofAccountancy

Proposed regulations provide guidance on foreign tax credit rules

Treasury issued proposed regulations (REG-112096-22) relating to the foreign tax credit (FTC) on Friday, including revisions to the reattribution asset rule for purposes of allocating and apportioning ...
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 ...