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of <h1>Article 25 of DTAA: Eliminating Double Taxation for Residents with Income or Capital in Contracting States</h1> Article 25 of the Double Taxation Avoidance Agreement (DTAA) between two Contracting States outlines the elimination of double taxation. It mandates that when a resident of one State earns income or owns capital taxable in the other State, the first State must allow a deduction equivalent to the tax paid in the other State. This deduction cannot exceed the portion of tax attributable to the income or capital taxed in the other State. Additionally, even if income or capital is exempt in one State, it can still be considered in tax calculations. The term 'tax paid' excludes amounts related to defaults or omissions.
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