https://www.taxtmi.com/acts?id=4922 Article 24 provides treaty mechanisms to avoid double taxation by allowing, for Indian residents, a credit for Italian tax paid on Italy sourced income against Indian tax limited to the proportion of Indian tax attributable to that income, with a prescribed order of application where surtax is payable. For Italian residents, Italy may tax such income but must deduct Indian tax from the Italian tax computed, limited proportionally, except where a final withholding tax has been applied in Italy; taxes exempted or reduced under domestic law are treated as deemed paid, and exempt income may be considered for progression. en-us Sat, 19 Jan 2008 22:45:54 +0530 Fri, 06 Dec 2024 18:24:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=4922 Article 24 provides treaty mechanisms to avoid double taxation by allowing, for Indian residents, a credit for Italian tax paid on Italy sourced income against Indian tax limited to the proportion of Indian tax attributable to that income, with a prescribed order of application where surtax is payable. For Italian residents, Italy may tax such income but must deduct Indian tax from the Italian tax computed, limited proportionally, except where a final withholding tax has been applied in Italy; taxes exempted or reduced under domestic law are treated as deemed paid, and exempt income may be considered for progression. Act-Rules DTAA Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=4922