Anand, a resident in India, has a total income of ₹10,00,000 during the previous year 2015-16. This income includes foreign income of ₹3,00,000 from a country with which India does not have agreement to avoid double taxa
CS Executive · Tax Laws and Practice · PYQS · June 2016
Anand, a resident in India, has a total income of ₹10,00,000 during the previous year 2015-16. This income includes foreign income of ₹3,00,000 from a country with which India does not have agreement to avoid double taxation. Tax levied by the foreign country on that foreign income was ₹40,000 and the tax payable as per the Indian rate on the total income amounts to ₹2,50,000. The double taxation relief allowable to Anand shall be —
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax
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