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of <h1>Australia-India Double Taxation Agreement: Article 24 Explains Tax Credit for Residents to Avoid Double Taxation</h1> Article 24 of the Double Taxation Avoidance Agreement (DTAA) between Australia and India outlines methods to eliminate double taxation. For Australian residents, Indian tax paid on income sourced from India can be credited against Australian tax. Dividends paid by an Indian company to an Australian company, where the latter holds significant voting power, include credit for Indian tax on profits. Indian tax includes taxes foregone due to exemptions under specific Indian laws. For Indian residents, Australian tax paid on income from Australia is credited against Indian tax, with provisions for companies paying surtax. Income taxable only in one state may still be considered in the other for tax calculations.
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