https://www.taxtmi.com/acts?id=6066 Elimination of double taxation is achieved by granting a foreign tax credit: residents may deduct from domestic income tax and capital tax an amount equal to tax paid in the other Contracting State, limited to the domestic tax attributable to that income or capital. The same method applies reciprocally. Taxes foregone under tax incentive schemes designed to promote economic development are deemed payable for credit purposes. Income exempt under the Convention may be considered when calculating applicable tax rates. en-us Sat, 19 Jan 2008 22:45:54 +0530 Fri, 06 Sep 2024 15:18:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=6066 Elimination of double taxation is achieved by granting a foreign tax credit: residents may deduct from domestic income tax and capital tax an amount equal to tax paid in the other Contracting State, limited to the domestic tax attributable to that income or capital. The same method applies reciprocally. Taxes foregone under tax incentive schemes designed to promote economic development are deemed payable for credit purposes. Income exempt under the Convention may be considered when calculating applicable tax rates. Act-Rules DTAA Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=6066