Double taxation relief: India permits deduction for Mexican tax paid; Mexico allows credit for Indian tax paid.

India allows residents a deduction from Indian tax equal to Mexican tax paid on income taxable in Mexico, limited to the Indian tax attributable to that income. Mexico, subject to its laws and limitations, permits residents a credit for Indian tax paid on income arising in India up to the Mexican tax payable on such income, and, for companies owning at least ten percent of an Indian resident company, a credit for Indian tax paid by the distributing company on profits from which dividends are paid.

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