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Foreign Tax Credit Dispute - Bollywood superstar Shah Rukh Khan has won a major victory in a long-running foreign tax credit  dispute with the Income Tax Department. The Income Tax Appellate Tribunal (ITAT) ruled in Mr. Khan's favor, rejecting the department's claims about his declared income for 2011-2012. What is a Foreign Tax Credit Dispute? The dispute was about taxes on Mr. Khan's movie RA One , which came out in 2011. The IT department questioned Mr. Khan's declared income of Rs 83.42 crore for that year and denied his request for foreign tax credit   on taxes he paid in the UK. The IT department recalculated his tax as Rs 84.17 crore, issuing this assessment more than four years later. ITAT Ruling on Foreign Tax Credit Claim The ITAT ruled that the IT department's reassessment was not legal. They said the assessing officer didn’t provide any "new and clear evidence" to justify reopening the case after four years. Since the matter had already been reviewed during the original assessment, the tribunal declared the reassessment invalid for multiple reasons. Importance of Following Proper Compliance for Foreign Tax Credit The case also focused on Mr. Khan's contract with Red Chillies Entertainment, which stated that 70% of the film’s shooting happened in the UK. Because of this, Mr. Khan argued that 70% of his income should be taxed in the UK. The IT department claimed this arrangement reduced India's tax revenue, so they rejected his foreign tax credit   claim. However, ITAT ruled in favor of Mr. Khan, confirming that his claim was legitimate. For individuals or businesses seeking guidance on Foreign Tax Credit , Income Tax Returns , or Tax Planning , consulting professional tax experts can ensure smooth compliance. Final Outcome This win is a big relief for Shah Rukh Khan and highlights the importance of following proper legal steps in tax reassessments. If you need assistance with Income Tax Filings , GST Filings , or Audit Services , our expert team at SS Auditors   is here to help.

Starting April 1, 2026, the Income Tax Department will have the authority to review emails, social media accounts, bank records, and online investments in cases where they suspect tax evasion or undisclosed income. However, there are specific conditions that must be met before officials can access your personal online data. What Does the New Bill Say? The Income Tax Bill, 2025, expands the scope of investigation by introducing the concept of " virtual digital spaces ." This includes: Emails Social media accounts Online investment and trading accounts Bank accounts Websites that store asset ownership details Cloud storage and remote servers Digital application platforms This change aims to tackle modern tax evasion practices while ensuring taxpayers' privacy is respected. Is This a New Rule? No, this is not entirely new. The current Income Tax Act, 1961, already allows officials to check electronic records during search and seizure operations. The new bill simply clarifies these rules, particularly regarding virtual digital spaces. When Can the I-T Department Access Your Digital Data? Tax officials can request access to your digital accounts only if they suspect you are hiding undisclosed income. Before accessing your data, they must first send a notice or summons. If you fail to respond adequately, they may proceed to unlock your digital accounts using force if required. Who Can Access Your Data? Only authorized officials like joint directors, joint commissioners, assistant directors, assistant commissioners, or income-tax officers can conduct these investigations. A joint director or joint commissioner may also delegate authority to an assistant officer for this purpose. What Rights Do You Have as a Taxpayer? Taxpayers are protected by key rights under this new bill, reinforcing their taxpayer rights : Right to Privacy:  Your personal data cannot be accessed unlawfully. Authorities must follow strict data protection laws under the Information Technology Act, 2000. Any action must align with your constitutional rights under Article 21 of the Indian Constitution. Right to Due Process and Fair Investigation:  Tax authorities must follow proper legal steps before accessing your data. If you're accused of evasion, you have the right to defend yourself in court before any penalties or actions are taken. Key Takeaway While the Income Tax Bill, 2025, gives tax authorities more power to investigate digital data, these actions must follow clear rules. If you cooperate and respond to notices promptly, you can prevent invasive actions. Knowing your rights will help you stay informed and protected. If you have concerns or face an investigation, consider seeking professional advice or visit our Tax Services page for further guidance. For assistance with Income Tax Filing , GST Registration , or Company Compliance , our experts are here to help you stay on track and informed.

In a recent announcement, former US President Donald Trump declared that automobiles manufactured in America would be exempt from taxes under his administration. While making this statement, Trump criticized India's steep tariffs on US vehicles, which he claimed exceed 100%. "If you don't manufacture your product in America, you will pay a tariff — and in some cases, a rather significant one," Trump remarked. Trump Auto Tariffs Highlighting Unfair Trade Practices Trump emphasized that several countries, including the European Union, China, Brazil, India, Mexico, and Canada, impose substantially higher tariffs on US goods than the US charges in return. "It's extremely unfair," Trump stated. "These nations have leveraged tariffs against us for years. Now it's our turn to introduce tariffs against them." Trump Auto Tariffs and India in Focus Pointing specifically to India's trade practices, Trump noted, "India charges us auto tariffs that exceed 100%. Meanwhile, China imposes tariffs that are twice what we charge them, and South Korea's average tariff is four times higher." Trump expressed frustration over the imbalance despite the United States' extensive military and strategic support to certain countries. Reciprocal Tariff Policy Trump reiterated that his " reciprocal tariff " policy would come into effect on April 2. This policy aims to ensure that the United States imposes tariffs equivalent to those charged by other countries on American exports. "That's what reciprocal means," Trump explained. "If they tax us, we will tax them." Promoting Fair Trade Practices with Trump Auto Tariffs The former President's announcement underscores his long-standing commitment to addressing trade imbalances. By introducing reciprocal tariffs, Trump aims to create a more level playing field for American industries while promoting domestic manufacturing. For businesses looking to expand internationally or manage tariff implications, services like Import Export Code Registration  and   GST Registration  are crucial. Additionally, understanding Income Tax Matters & Tax Planning  can help businesses effectively manage their global financial strategies. As the policy's April 2 launch date nears, global trade dynamics are expected to shift significantly, especially for countries that have historically imposed higher tariffs on US products.

For assistance with tax services, audits, compliance, and more, contact SS Auditors & Tax Consultants' customer care team. We're here to answer your questions and provide expert support. Contact SS Auditors Get in Touch Have any queries? Fill out the form below and our team will reach out to you promptly. Contact us First name* Last name Email* Phone* Write a message I authorize ss auditors and tax consultants to contact me with updates and notifications via Email, SMS, WhatsApp, and Call. This will override the registry on DND / NDNC. Submit Connect with Us +91 9916832841 / 9379657976 services@ssauditor.com /ssauditorsntc@gmail.com Have more questions? Feel free to message our support team. Message Us Location Our Location Visit us at our convenient office location. Head Office 12, 1st Cross, AMC Road MM Layout, Kavalbyrasandra RT Nagar Post, Next to SBI Bank Kaval Bairasandra Branch Bengaluru, Karnataka 560032 FAQ Frequently Asked Questions Who are SS Auditors? SS Auditors and Tax Consultants, established in 2013, is a full-service accounting firm recognized as one of the most trusted Chartered Accountants in India. Founded by Sayeed Ahmed V M, the firm has built a strong reputation for its commitment to excellence and high standards. Initially managed solely by Sayeed Ahmed, who oversaw all organizational functions and implemented effective marketing strategies, the firm has since grown with the dedicated efforts of Mrs. Sayeed, who contributes to achieving the organization's goals. What services does SS Auditors & Tax Consultants offer? SS Auditors & Tax Consultants is a full-service accounting company that provides a wide range of services including auditing, tax consulting, accounting, and business advisory services, as well as newly added offerings in digital marketing and web development. How has SS Auditors grown over the years? Since its inception, SS Auditors has expanded its service offerings and established itself as a full-service accounting firm. Through continuous development led by Sayeed Ahmed, the company has earned a reputation for its impeccable standards of excellence. What makes SS Auditors & Tax Consultants different from other firms? SS Auditors takes great pride in its meticulous attention to detail, quality service, and customer satisfaction. The founder's direct involvement in the firm's early growth and marketing campaigns set the foundation for personalized reliable services. What certifications does SS Auditors hold? We are proud to be an ISO-certified firm, reflecting our commitment to maintaining high standards of quality and professionalism. This certification underscores our focus on continuous improvement and adherence to best practices in all our processes. By implementing rigorous quality management systems, we ensure consistency in our services and foster trust with our clients. When was SS Auditors & Tax Consultants established? SS Auditors & Tax Consultants was established in 2013. Over the past 13 years, the firm has grown into one of the most trusted chartered accountancy and tax consultancy firms in India. SS Auditors prides itself on its client-centric approach, offering personalized solutions to meet each client’s unique financial and regulatory needs. The firm’s commitment to integrity, transparency, and professionalism has earned it a strong reputation in the industry. Why should I choose SS Auditors for my financial needs? As a leading Chartered Accountant firm, we provide exceptional services characterized by integrity and a steadfast commitment to excellence, empowering our clients to effectively navigate their financial challenges. What is the focus of SS Auditors when providing services? Our focus is on providing expert solutions tailored to our clients' unique needs, ensuring their path to sustained success. We prioritize building strong relationships, leveraging industry insights, and employing innovative strategies to drive growth. How can I contact SS Auditors for more information about your services? You can reach out to us through our website or contact us directly via phone or email for any inquiries regarding our services and offerings.

Explore SS Auditors & Tax Consultants' cancellation and refund policies. Learn about service cancellation terms, refund eligibility, and the claims process. Your satisfaction is our top priority. Cancellations & Refund Legal Disclaimer The information on this website is provided for general informational purposes only. It does not constitute legal or professional advice. We do not guarantee the accuracy, timeliness, or completeness of the information provided. You should always seek the advice of a professional consultant or attorney regarding your specific situation. Use of this website is at your own risk and subject to our Terms of Use. SS Auditors understands the importance of client satisfaction and strives to provide high-quality auditing services. However, it is important to note the following refund policy: Cancellation & Refund Policy S S AUDITORS AND TAX CONSULTANTS believes in helping its customers as far as possible, and has therefore a liberal cancellation policy. Under this policy: • Cancellations will be considered only if the request is made immediately after placing the order. However, the cancellation request may not be entertained if the orders have been communicated to the vendors/merchants and they have initiated the process of shipping them. • S S AUDITORS AND TAX CONSULTANTS does not accept cancellation requests for perishable items like flowers, eatables etc. However, refund/replacement can be made if the customer establishes that the quality of product delivered is not good. • In case of receipt of damaged or defective items please report the same to our Customer Service team. The request will, however, be entertained once the merchant has checked and determined the same at his own end. This should be reported within only same day days of receipt of the products. In case you feel that the product received is not as shown on the site or as per your expectations, you must bring it to the notice of our customer service within only same day days of receiving the product. The Customer Service Team after looking into your complaint will take an appropriate decision. • In case of complaints regarding products that come with a warranty from manufacturers, please refer the issue to them. In case of any Refunds approved by the S S AUDITORS AND TAX CONSULTANTS, it’ll take 3-5 Days for the refund to be processed to the end customer. Payment Methods

Learn more about SS Auditors & Tax Consultants, established in 2013. We provide expert guidance to individuals and businesses, specializing in tax filing, audits, GST services, and compliance solutions. About Us Our Story Process for our valued customers Established in 2013, SS Auditors and Tax Consultants, one of the most trusted Chartered Accountants, is a full-service accounting company that takes great pride in its impeccable standards of excellence. Over the past 13 years, Sayeed Ahmed V M has been working to develop this business effectively, this organization was managed solely by Sayeed Ahmed in its initial days. He was the only individual who took complete care of the organizational functions and also introduced different marketing campaigns to promote the business. Utilizing a seamless payment gateway, we ensure a smooth and secure payment collection process with multiple payment methods, real-time transaction tracking, automatic reconciliation, and encryption for enhanced security. Our Commitment to Excellence At SS Auditors, we are committed to delivering the highest standards of professional accounting and tax consultancy services to our clients. Our dedication to excellence sets us apart and ensures the utmost satisfaction for our clients. Tailored Financial Solutions Our team at SS Auditors takes sustainability seriously by providing personalized financial solutions that not only benefit our clients but also contribute to the sustainable growth of their businesses. We believe in creating financial strategies that stand the test of time. Empowering Local Businesses SS Auditors is dedicated to supporting local businesses and entrepreneurs by offering specialized financial and auditing services that help them thrive in today's competitive market. Discover Financial Efficiency! Explore our comprehensive financial solutions and tax optimization services to enhance your business's financial efficiency and success. Explore Services Subscribe for Updates Stay Informed on Latest Financial Insights Enter your email to receive updates Subscribe Thank You for Subscribing!