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of <h1>India-Sri Lanka DTAA Article 23: Methods to Eliminate Double Taxation with Tax Credits and Exemptions Explained</h1> Article 23 of the Double Tax Avoidance Agreement (DTAA) between India and Sri Lanka outlines methods to eliminate double taxation. Each country will continue to apply its tax laws unless the agreement specifies otherwise. For residents of India, taxes paid in Sri Lanka can be deducted from Indian taxes, but not exceeding the tax attributable to Sri Lankan income. Similarly, for Sri Lankan residents, taxes paid in India can be deducted from Sri Lankan taxes, with the same limitation. Both countries may consider exempted income when calculating taxes on remaining income.
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