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Latest revision as of 18:18, 22 September 2024

A credit is allowed for foreign income taxes paid or accrued. The credit is limited to that particular part of Oughout.S. tax due to foreign source income. It's not refundable, but any excess credit may be carried to other years to reduce tax.

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3 A 3. All individuals to spend tax @ 15.00 % of earnings over first Rs. 4,00,000/-. No slabs, no deductions, no exemptions, no incentives and no allowances.No distinction in the nature and income source transfer pricing .

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