K G Sharma (Part) (34 Points)
23 February 2015Dear Members
My Query is "A resident individual who gets Business income from USA pays federal tax & state tax in that country. whether he will while filing return in India get credit of both taxes or not???" Pls advise.
Vishal Goel
(Chartered Accountant)
(1693 Points)
Replied 23 February 2015
Hello,
As per DTAA if the same income is to be taxed in both the countries, then DTAA shall provide that tax paid in one country shall be allowed credit from tax payable in other country.
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