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        Case ID :
        Income Tax

        Foreign Tax Credit (‘FTC’) - Benefit on proportionate basis

        30 June, 2016

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        Rule - 128 - Foreign Tax Credit

        FTC Benefit on proportionate basis

        If income offered to tax in more than one year then benefit shall be allowed on proportionate basis.

        Foreign tax credit proportionate allocation ensures foreign tax relief is apportioned when income is taxed across multiple years. Foreign tax credit under the Income tax Rules operates on a proportionate allocation principle when the same income is taxable in more than one year; the credit entitlement must be apportioned across the years in which the income is offered to tax so that relief for foreign taxes corresponds to the portion of income taxed in each year.
                    Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                      Provisions expressly mentioned in the judgment/order text.

                          Foreign tax credit proportionate allocation ensures foreign tax relief is apportioned when income is taxed across multiple years.

                          Foreign tax credit under the Income tax Rules operates on a proportionate allocation principle when the same income is taxable in more than one year; the credit entitlement must be apportioned across the years in which the income is offered to tax so that relief for foreign taxes corresponds to the portion of income taxed in each year.


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