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<h1>Foreign Tax Credit Denied for Interest, Fees, Penalties, and Disputed Taxes u/r 128 of Income-tax Rules, 1962.</h1> Rule 128 of the Income-tax Rules, 1962, specifies that no Foreign Tax Credit (FTC) benefit is available for interest, fees, or penalties payable under the Income Tax Act. Additionally, FTC benefits cannot be claimed for any portion of foreign tax that is disputed by the taxpayer.
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