She paid US tax but missed Form 67, triggering Rs 30 lakh India tax demand; ITAT Delhi orders relief, asks AO to verify Rs 23.48 lakh credit claim after 6-year fight

The ITAT Delhi noted that the woman had claimed a foreign tax credit of Rs 23.48 lakh in her ITR. (Image for representative purpose) You are an Indian-origin US citizen and you pay your taxes in America. But a tax demand for your income is raised in India because of an error on your part….

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BRICS should work together on transfer pricing: Finance minister Nirmala Sitharaman

BRICS economies must have say in global tax rules as negotiations shape cross-border taxation: FM Sitharaman NEW DELHI: Finance minister Nirmala Sitharaman on Wednesday urged BRICS nations to share their experiences on treaty interpretation and multilateral negotiations in international taxation, saying global transfer pricing disputes “disproportionately” burden developing countries.India has proposed to set up two…

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Baba votes against nephew, but Sameer secures Hikal chair

NO TRUCE Sameer Hiremath (left) and Baba Kalyani MUMBAI: Baba Kalyani voted against his own nephew and lost. Sameer Hiremath, 52, secured the chairmanship of Hikal despite opposition from Bharat Forge’s chairman and MD, with public shareholders tipping the balance.The resolution passed narrowly. Of the votes cast, nearly 52% backed Sameer’s appointment as CMD, against…

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