Double taxation relief: treaty allows limited foreign tax credits and exemption with progression to prevent double taxation. The Agreement prescribes that India grants a foreign tax credit for taxes paid in Latvia limited to the Indian tax attributable to the income taxed in Latvia and may account for exempted income when computing tax on remaining income. Conversely, Latvia generally exempts income taxed in India but, for certain income taxable in India, allows a deduction equal to Indian tax paid limited to the Latvian tax attributable to that income, while permitting consideration of exempted income when calculating tax on remaining income.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Double taxation relief: treaty allows limited foreign tax credits and exemption with progression to prevent double taxation.
The Agreement prescribes that India grants a foreign tax credit for taxes paid in Latvia limited to the Indian tax attributable to the income taxed in Latvia and may account for exempted income when computing tax on remaining income. Conversely, Latvia generally exempts income taxed in India but, for certain income taxable in India, allows a deduction equal to Indian tax paid limited to the Latvian tax attributable to that income, while permitting consideration of exempted income when calculating tax on remaining income.
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