安裝中文字典英文字典辭典工具!
安裝中文字典英文字典辭典工具!
|
- Income Tax Rule 115 – Income Received in Foreign Currency
Income Tax Rule 115 deals with situation where a person has earned income in foreign currency This income can accrue and can be received in India or out side India, but if that income is taxable in the hands of recipient then this provision has to be applied
- TITLE XII: FOREIGN TAX PROVISIONS; PART F: FOREIGN CURRENCY . . .
Under the "title passage" rule, gain from the sale of personal property generally was treated as foreign source if the property was sold outside the United States; however, the resourcing rule of prior law section 904(b)(3)(C) of the Code could apply to recharacterize a taxpayer's foreign source capital gain as domestic source gain for purposes
- ITAT ruling reaffirms method of conversion of foreign . . .
The explanation to rule 115(1) states that for the purpose of the rule, the specified date in respect of income chargeable under the heads "Income from house property," "Profits and gains of business or profession" (other than income derived by a nonresident from the business of operation of ships) and “Income from other sources" (other than
- Foreign Capital Gain Tax - Taxfull
As per the Income Tax Act, while calculating the capital gain on foreign investment in shares, impact of foreign currency fluctuations should be considered in it Meaning thereby in your case, Capital Gain Tax will be calculated as follows: Sales Consideration: 150*75= 11,250 Cost of Acquisition (COA): 100*70= 7000 Short Term Capital Gain= Rs
- Foreign exchange fluctuation loss on outstanding foreign . . .
Therefore, loss claimed on account of fluctuation in the foreign exchange rate could not be allowed as revenue expenditure [CIT(A)] held that since the purpose of loans raised was to acquire capital assets, the taxpayer is not entitled to fluctuation loss
- Rule – 115, Rate of exchange for conversion into rupees of . . .
115 71 [ (1)] The rate of exchange for the calculation of the value in rupees of any income accruing or arising or deemed to accrue or arise to the assessee in foreign currency or received or deemed to be received by him or on his behalf in foreign currency shall be the telegraphic transfer buying rate of such currency as on the specified date
- Adjustments of foreign capital gains and losses for the . . .
After the U S capital loss adjustment, taxpayers must make the capital gain rate differential adjustment to further reduce foreign long-term (but not short-term) capital gains and also capital losses, by multiplying a portion of them by a percentage
|
|
|