https://www.taxtmi.com/acts?id=5858 Elimination of double taxation is achieved by credit and exemption mechanisms: residents of India receive a tax credit for foreign income-tax and foreign net-wealth tax paid, limited to the Indian tax attributable to that income or assets, and may have foreign-only taxable income considered for graduated rates. The other Contracting State grants credit for Indian tax under its domestic rules, may consider India only taxable income for rate determination, exempts certain intercompany dividends under its law, and treats specified incentive-related tax reductions as deemed tax paid for credit purposes during a transitional period extendable by mutual agreement. en-us Sat, 19 Jan 2008 22:45:54 +0530 Wed, 27 Nov 2024 15:12:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=5858 Elimination of double taxation is achieved by credit and exemption mechanisms: residents of India receive a tax credit for foreign income-tax and foreign net-wealth tax paid, limited to the Indian tax attributable to that income or assets, and may have foreign-only taxable income considered for graduated rates. The other Contracting State grants credit for Indian tax under its domestic rules, may consider India only taxable income for rate determination, exempts certain intercompany dividends under its law, and treats specified incentive-related tax reductions as deemed tax paid for credit purposes during a transitional period extendable by mutual agreement. Act-Rules DTAA Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=5858