Foreign tax credit: excess overseas tax credit ignored when computing credit under section 115JAA; assessment period extended. Where credit for income-tax paid in a foreign country or specified territory under double taxation provisions exceeds the amount admissible against the assessee's tax under the relevant sub-section, the excess shall be ignored when computing the credit; additionally, the assessment-year threshold in the sub-section is extended to a later assessment year, lengthening the period of application.