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of <h1>Amendment to Section 198: Foreign Tax Credit Counts as Income for Tax Computation from April 2025.</h1> Clause 66 of the Finance (No. 2) Bill, 2024, proposes an amendment to section 198 of the Income-tax Act. The amendment specifies that income tax paid outside India, which is credited against tax payable under the Act, will be considered as income received for the purpose of computing an assessee's income. This change is applicable to sums deducted under Chapter XVII-B and will take effect from April 1, 2025.
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