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of <h1>Tax deducted at source and foreign taxes with credit allowance deemed income received under Clause 396</h1> The Income Tax Bill 2025's Clause 396 and the Income-tax Act 1961's Section 198 both establish that tax deducted at source and foreign taxes paid with credit allowance are deemed income received for tax computation purposes. This prevents income from escaping assessment merely due to tax withholding. Clause 396 modernizes the provision by using general language covering amounts deducted 'under this Chapter' rather than enumerating specific sections, potentially reducing future amendment needs. Both provisions include exceptions for certain tax types. The new clause maintains tax base integrity while streamlining compliance and aligning with international practices for cross-border transactions and double taxation avoidance agreements.
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