The person has paid tax in foreign country on his income there and is subject to be taxed on his worldwide income in India. How should we claim the credit for tax paid in foreign country?
Thanks
Nikhil Kumar (CA , Qualified CPA) (910 Points)
24 November 2011The person has paid tax in foreign country on his income there and is subject to be taxed on his worldwide income in India. How should we claim the credit for tax paid in foreign country?
Thanks
kanagaraj
(CHARTERED ACCOUNTANT)
(793 Points)
Replied 24 November 2011
Hi nikhil,
First of all go through the DTAA of the country in which the person receives the income and accordingly you get the crdit.
Nikhil Kumar
(CA , Qualified CPA)
(910 Points)
Replied 26 November 2011
Thanks for the reply.
The DTAA allows for credit of tax. However, I need the procedure to avail such credit.