Where a person derives income from a nation with which India...

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Examveda

Where a person derives income from a nation with which India does not havea DTAA, such person is given credit in India in which of the following manner?

A. Entire tax paid in the foreign country is allowed as deduction

B. Tax paid in the foreign country on income which is doubly taxed, is allowed as deduction

C. Tax paid on income which is doubly taxed, is allowed as deduction, at the Indian rate of tax only

D. Tax paid on income which is doubly taxed, is allowed as deduction, at the Indian rate of tax or rate of tax of the foreign country, whichever is lower

Answer: Option D


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