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of <h1>India-Ukraine Tax Agreement: Article 24 Ensures Tax Credits to Prevent Double Taxation and Promote Economic Development</h1> Article 24 of the Double Taxation Avoidance Agreement (DTAA) between India and Ukraine outlines the measures to prevent double taxation. It states that each country will continue to apply its own tax laws unless the Convention provides otherwise. For Indian residents with income or capital taxable in Ukraine, India will allow a deduction equivalent to the Ukrainian tax paid. Similarly, Ukraine will provide a credit for Indian taxes paid against Ukrainian taxes. Tax incentives promoting economic development are considered in calculating tax liabilities. Income exempt from tax under the Convention may still influence the tax rate in the respective country.
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