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of <h1>Amendment to Section 198: Taxpayers Can Claim Credit for Income Tax Paid Abroad Starting April 1, 2025.</h1> Section 198 of the Income-tax Act has been amended by the Finance (No. 2) Act, 2024. The amendment involves the insertion of the phrase 'and income-tax paid outside India, by way of deduction, in respect of which an assessee is allowed a credit against the tax payable under this Act,' following the words 'this Chapter.' This change will take effect from April 1, 2025, allowing taxpayers to receive credit for income tax paid abroad as a deduction against their tax liabilities under the Indian Income-tax Act.
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