In CIT v. O.VR.SV.VR. Arunachalam Chettiar case, how is relief calculated for doubly taxed income? Question 16Answer a. On the maximum permissible tax rate across both countries b. Simply on the amount decreed by the foreign country c. On the amount of income taxed in India after allowances d. On the total foreign income regardless of deductions
In the case of CIT v. O.VR.SV.VR. Arunachalam Chettiar, the relief for doubly taxed income is calculated:
a. On the maximum permissible tax rate across both countries
This means that the relief is determined based on the higher tax rate applicable in either of the countries involved, ensuring that the taxpayer does not pay more tax than the maximum rate applicable in their home country.