Foreign tax credit issue 'first of its kind', acknowledges HC; Grants time

Feb 02,2015

Senior Advocate N. Venkatraman continues ​​arguments to buttress ​Wipro​’s foreign tax credit claim before Karnataka HC; Argues that Sec 90(1)(a)(ii) provid​ing​ for grant of credit ​of taxes ​on income “chargeable" to tax in India and the foreign country​,​ though introduced w.e.f. April 1, 2004​,​is clarificatory in nature; Even otherwise, contends that prior to 2004, assessee should be entitled for benefit u/s 90(2) under re...

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