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Statement of income from a country or specified territory outside india offered for the previous year and of foreign.
Tax relief under section 90. Compute lower of indian rate of tax and rate of tax in foreign country. For granting the relief in respect of. The provisions may be.
Relief under section 90 and section 91 of income tax act 1961 1. The application of sections 90 and 91 can be illustrated with the help of the following 1. Then multiply such rate with the.
To mitigate the evil of double taxation the central government introduced the concept of double taxation relief under section 90 of the income tax act 1961. Then calculate tax on the total income above. The main aim of this tax relief is to prohibit an income to be taxed twice.
Section 90a the central government is empowered by section 90a to enter into an agreement with any specified association in the. Steps to compute relief. There are two sections section 90 and section 91 of the income tax act 1961 which gives relief from paying double tax.
Multiply the rate obtained in step 3 by the doubly taxed income. Income on which tax have been paid both under income tax. Now calculate average rate of tax.
First include the income earned and taxed in the foreign country along with the income earned in india. Compute tax payable in india. Double taxation arises when various sovereign countries exercise their power to levy taxes on the same income.
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