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of <h1>Article 24 of India-Malta DTAA: Rules for Eliminating Double Taxation on Income, Including Tax Credits and Exemptions.</h1> Article 24 of the Double Taxation Avoidance Agreement (DTAA) between India and Malta outlines the elimination of double taxation. It specifies that each country's laws will govern income taxation unless otherwise stated in the agreement. For India, residents can deduct Malta's paid income tax from their Indian tax, but not exceeding the Indian tax attributable to the Malta-sourced income. Similarly, Malta allows a credit for Indian tax on income included in Malta's assessment. Specific provisions address tax exemptions or reductions under each country's laws, ensuring tax relief applies only to income remitted or received in the other state. Income not taxed under the agreement may still influence tax rate calculations.
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