Karnataka HC to decide on foreign tax credit claim by Sec 10A entity

Jan 13,2015

Karnataka HC to decide on foreign tax credit claim sought by Sec 10A entity; Senior Advocate N. Venkatraman ​c​ontends that tax paid in USA ​is ​​eligible for full tax credit (FTC) under the ​India-USA tax treaty as long as the income is chargeable to tax​,​ irrespective of ​whether ​tax​ paid in both jurisdictions; ​Further, ​argues that in a Sec 10A scenario, as entire export turnover is not subsumed into exemption, FTC should ​anyway ​be made available a...


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