international taxation

[MANOHAR KALBURGI]

Dear sir/madam

Assessee has earned income from other source and capital gain in USA and paid tax at 10% on each (i.e on dividend income and CG) Now question arise here as follow:

during the AY assessee is a resident in India and has a taxable income in India also and all the income including USA income briefed with example as follow:

1.Capital gain of USA after converting to INR and giving indexation benefit it is coming loss ( XX)

2.Income from other source including Indian income XX

Questions to be answered as follow

whether assessee is eligible for claiming rebate u/s 91 (DTAA) even though he has taken a indexation benefit while computing capital gain of USA in India?

Thank you in advance

AI Summary

Can an Indian resident claim a rebate under Section 91 DTAA on US capital gains taxed at 10% with indexation? An individual, a resident in India, has earned income from dividends and capital gains in the USA, taxed at 10%. The individual queries whether they can claim a rebate under Section 91 of the Double Taxation Avoidance Agreement (DTAA) despite using indexation benefits for computing the capital gains in India. The capital gains, after conversion to INR and applying indexation, result in a loss. Additionally, the individual has other sources of income in India. The query seeks clarification on eligibility for the tax rebate under these circumstances.