Double Taxation
This query is : Resolved
16 November 2008
My client is employed with TCS in US. They have been paying his salary and deducting tds in USD. My client has filed his W-2 (ITR in US). He left TCS in Aug 07 and TCS gave him a salary certificate in INR.
My client files his ITR regularly in India. How and to what extent do i claim the double taxation benefit in his ITR? Do i have to apply any conversion rate to convert the tds paid in USD to INR? Is there a formula for claiming this benefit and under what section? How will his total income in INR be computed in such a case?
My client files his ITR regularly in India. How and to what extent do i claim the double taxation benefit in his ITR? Do i have to apply any conversion rate to convert the tds paid in USD to INR? Is there a formula for claiming this benefit and under what section? How will his total income in INR be computed in such a case?
Ravikumar.G
(Expert)
18 November 2008
The Taxation of income when agreement with a foreign country exists. Sec (90).
Bilateral relief (two methods of granting relief under DTAA)
a) Exemption method
b) Tax credit method
Bilateral relief (two methods of granting relief under DTAA)
a) Exemption method
b) Tax credit method
Ravikumar.G
(Expert)
18 November 2008
Computation of Bilateral relief :
I. Compute total income liable to tax in India in accordance with the provisions of the IT act.
II. Compute relief as the terms of the tax Treaty entered with the other contracting country where the income has suffered double taxation.
I. Compute total income liable to tax in India in accordance with the provisions of the IT act.
II. Compute relief as the terms of the tax Treaty entered with the other contracting country where the income has suffered double taxation.
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