Foreign Earnings Cases

The US Supreme Court on Monday shut down lawsuits claiming Donald Trump violated constitutional bars against a president accepting income from foreign sources.

Days after the government decided to exempt foreign funds from tax on profits earned before April 1, the Central Board of Direct Taxes (CBDT) on Thursday issued a circular asking its field officers to keep in abeyance pending assessments and not to recover any outstanding demand.

The US Supreme Court on Monday shut down lawsuits claiming Donald Trump violated constitutional bars against a president accepting income from foreign sources.

Days after the government decided to exempt foreign funds from tax on profits earned before April 1, the Central Board of Direct Taxes (CBDT) on Thursday issued a circular asking its field officers to keep in abeyance pending assessments and not to recover any outstanding demand.