Income Tax Return filing by Foreign Companies
Foreign Companies who have earned taxable income in India for the period 01st April 2020 to 31st March 2021, are required to file the return of Income in India if the tax is withheld at the rates prescribed as per Double Taxation Avoidance Agreement (DTAA). The filing of the Income Tax Return is not applicable if the tax is withheld at the rates prescribed as per Indian Income Tax Act. The due date for filing the return of income for the Financial Year 2020-21 was 15th March 2022. However, if the return has not been filed within the due date, one can still file within 31st March 2022 by paying a penalty of Rs. 10,000/ -. It is advisable to file return of income and claim the credit for taxes withheld in India.
Hope the above compliances are taken care. If not, kindly take care of the same at the earliest. Kindly let us know for any assistance in this regard.