https://www.taxtmi.com/acts?id=5014 The Convention implements a foreign tax credit system: residents of one Contracting State taxed on income sourced in the other may credit the tax paid abroad against domestic tax, limited to the domestic tax attributable to that income. Special incentive provisions and agreed tax reductions or exemptions for economic development are treated as foreign tax payable for credit purposes. Companies subject to surtax receive credits against income tax first and surtax thereafter. Where income is exempt under the Convention, the residence state may calculate tax on remaining income as if the exemption did not apply. en-us Sat, 19 Jan 2008 22:45:54 +0530 Tue, 10 Mar 2009 13:23:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=5014 The Convention implements a foreign tax credit system: residents of one Contracting State taxed on income sourced in the other may credit the tax paid abroad against domestic tax, limited to the domestic tax attributable to that income. Special incentive provisions and agreed tax reductions or exemptions for economic development are treated as foreign tax payable for credit purposes. Companies subject to surtax receive credits against income tax first and surtax thereafter. Where income is exempt under the Convention, the residence state may calculate tax on remaining income as if the exemption did not apply. Act-Rules DTAA Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=5014