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      Income Tax

      Foreign Tax Credit (‘FTC’) - Lower of the tax payable under the Act and DTAA

      30 June, 2016

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      Rule - 128 - Foreign Tax Credit\

      FTC credit shall be the lower of the tax payable under the Act on such doubly taxed income and the foreign tax paid on such income. If foreign tax paid exceeds the tax payable under DTAA, such excess shall be ignored.

       

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