Mr. Ramesh, a resident Indian, has derived the following incomes for the previous year relevant to...

 

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Mr. Ramesh, a resident Indian, has derived the following incomes for the previous year relevant to the A.Y. 2023-24: a. b. Income from profession in India Income from profession in country A (Tax paid in foreign country @ 5%) 2,44,000 €4,50,000 Compute Indian tax liability of the assessee assuming that as per treaty between India and Country A, * 4,50,000 is taxable in India. However foreign tax can be set off against Indian tax liability. Mr. Ramesh, a resident Indian, has derived the following incomes for the previous year relevant to the A.Y. 2023-24: a. b. Income from profession in India Income from profession in country A (Tax paid in foreign country @ 5%) 2,44,000 €4,50,000 Compute Indian tax liability of the assessee assuming that as per treaty between India and Country A, * 4,50,000 is taxable in India. However foreign tax can be set off against Indian tax liability.

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In the given scenario Mr Ramesh is a resident Indian who has earned income from two sources income from a profession in India and income from a profes... View the full answer