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Muskaan Arora posted an Question
November 23, 2021 • 01:50 am 30 points
  • UGC NET
  • Commerce

Calculation of unilateral relief of double tax

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  • Rucha rajesh shingvekar Best Answer

    Unilateral relief: Section 91 of the Income Tax Act, 1961 provides for unilateral relief against double taxation. ... The income should have been accrued to the taxpayer and received by them outside India in the previous year. The income should have been taxed both in India and in the country with which there is no DTAA. Relief under Section 90 Global income is INR 5,00,000/- (4,00,000+ 1,00,000) Tax on global income INR 12,500/- Average rate of tax INR 2.5% (12,500/5,00,000100) Tax required to be paid INR 2,500/- (Rs. ... Tax paid in a foreign country is INR 10,000/-. The amount of relief shall be lower of (4) and (5) i.e INR 2,500/-

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    Average rate of tax calculation 12500/500000*100

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