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Rules for Foreign Tax Credit

01 July 2016

With an aim to bring clarity on foreign tax credit regime in India, the Finance Act 2015 empowered Central Board of Direct Taxes (CBDT) to notify Rules laying down procedure for relief or deduction of income-tax paid outside India. The CBDT had earlier issued draft Rules for foreign tax credit in May 2016. The final Rules have now been notified by CBDT to be effective from April 1, 2017.