International Taxation – smeaccountant

Master File & Country-by-Country Report (CbCR): Forms 56, 57, 58, 59 & 60

The Income Tax Department has officially introduced Forms 56, 57, 58, 59, and 60 to streamline the submission process for the Master File and Country-by-Country Report (CbCR). This regulatory update…

Prasenjit Bhowmik August 14, 2026

Blog

Tax Authorities Introduce Simplified Forms 44 and 45 for Foreign Tax Credit Claims

Tax authorities have announced the upcoming implementation of new Forms 44 and 45, which will replace the former Form 67 for foreign tax credit claims starting April 1, 2026. This…

Prasenjit Bhowmik August 13, 2026

Blog

Global Overhead Charges Not Taxable as Fees for Included Services: Mumbai ITAT

In a notable tax jurisprudence development, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that global overhead charges do not qualify as Fees for Included Services…

Prasenjit Bhowmik July 31, 2026