Elimination of double taxation

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..... income derived from or capital owned in India shall be allowed as a credit against Israeli tax payable in respect of that income or capital. The credit shall not, however, exceed that portion of Israeli tax which the income or capital from sources within India bears to the entire income or capital, as the case may be, subject to Israeli tax. 2. Where a resident of India derives income or owns .....

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..... that State, such State may nevertheless, in calculating the amount of tax on the remaining income or capital of such resident, take into account the exempted income or capital. ******* Notes 1. Omitted vide NOTIFICATION NO. 10/2017 dated 14-02-2017 before it was read as 3. Notwithstanding the provisions of paragraphs 1 and 2 of this Article, where a resident .....

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