https://www.taxtmi.com/acts?id=6098 A foreign tax credit mechanism requires India to deduct from Indian tax an amount equal to tax paid in the U.A.E. on income or capital taxable there, limited to the Indian tax attributable to that income or capital and, for companies subject to surtax, applied first against income-tax then surtax. Conversely, subject to U.A.E. law, the U.A.E. must allow a deduction for tax paid in India limited to the portion attributable to the income. Indian tax "paid in India" includes tax that would have been payable but for specified Indian incentive measures, and exempted items may be considered when computing tax on remaining income or capital. en-us Sat, 19 Jan 2008 22:45:54 +0530 Mon, 09 Sep 2024 11:51:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=6098 A foreign tax credit mechanism requires India to deduct from Indian tax an amount equal to tax paid in the U.A.E. on income or capital taxable there, limited to the Indian tax attributable to that income or capital and, for companies subject to surtax, applied first against income-tax then surtax. Conversely, subject to U.A.E. law, the U.A.E. must allow a deduction for tax paid in India limited to the portion attributable to the income. Indian tax "paid in India" includes tax that would have been payable but for specified Indian incentive measures, and exempted items may be considered when computing tax on remaining income or capital. Act-Rules DTAA Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=6098