The Department is flagging possible non-disclosure of foreign assets for AY 2025-26 using global data. The key takeaway is ...

Taxpayers must disclose foreign assets and income in revised ITR by December 31. Failure to report can lead to penalties.

Today's global workers and their employers are at risk of triggering US tax and compliance obligations. The stakes are high for CPAs serving global ...

Upon exercise and allotment, the employee acquires beneficial ownership of foreign equity shares. Such exercised ESOP shares ...

CBDT has advised all eligible taxpayers to utilise this opportunity to ensure complete compliance with statutory reporting ...

NUDGE-2.0 is an initiative aimed at ensuring compliance with the Schedule of Foreign Assets and Foreign Source Income (FA & ...

Failure by an ROR to disclose, or incorrect disclosure of, foreign income and/or assets may attract these tax and penalty ...

The Income Tax Department is alerting taxpayers about foreign assets and income. Income earned from abroad requires reporting ...

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 ...

Forbes contributors publish independent expert analyses and insights. Carrie Brandon Elliot analyzes international tax issues. Reg. section 1.861-19(a) describes the scope of the regs as providing ...

Foreign companies are taxable in the Philippines on their income derived from sources within the country, regardless of their ...