CBDT issues draft rules on foreign tax credit

Print Posted Date : 18-Apr-2016 , 10:19:14 pm | Posted By CASANSAAR

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The rules, once finalised will allow for tax credit with all countries with which India has a double tax avoidance agreement as well as tax paid by Indian residents in other specified countries.

At present, such a facility is not available in the Income Tax Act, 1961 and the introduction of such rules was one of the key recommendations of the Tax Administration Reform Commission. #casansaar (PTI - The Hindu Business)

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