Don t Panic If Taxes Department Raids You: Difference between revisions
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Revision as of 15:15, 17 September 2024
A credit is allowed for foreign income taxes paid or accrued. The financial lending is limited to that particular part of Ough.S. tax due to foreign source income. It is far from refundable, but any excess credit end up being the carried to other years to reduce tax.
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