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of <h1>Finance Bill 2017 amends Section 115JD: Changes to foreign tax credit and extends tax credit carry-forward to 15 years.</h1> Clause 48 of the Finance Bill, 2017 amends section 115JD of the Income-tax Act, effective April 1, 2018. It introduces a proviso in sub-section (2) to disregard excess foreign tax credit over regular income-tax credit when calculating alternate minimum tax credit. Additionally, it amends sub-section (4) to extend the carry-forward period for tax credit from ten to fifteen assessment years. These changes apply from the assessment year 2018-2019 onwards, affecting the computation and carry-forward of tax credits for taxpayers with foreign income.
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