The Income Tax Department has the authority to issue

The Income Tax Department has the authority to issue a tax residency certificate. It confirms the individual’s residency in that country. A taxpayer has to collect this certificate. A taxpayer has to collect this certificate from the Income Tax Department. It confirms the individual’s residency in that country. Both individuals and corporate entities are taxpayers. Hence, they have to collect this certificate (TRC). It assists taxpayers in determining the applicable tax rates on foreign income. Today, businesspeople have a good scope of earning money in more than one country. Opportunities for cross-border transactions and overseas investments are plenty. Business people face problems in managing tax liabilities, which have become more complex.