India: Admissible and inadmissible taxes
Admissible for credit under the agreement:
- Income Tax and any surcharge thereon imposed under the Income Tax Acts 1961 (including the Alternative Minimum Tax on companies with effect from 1 April 1997).
- Additional tax on distributed profits (relief only as underlying tax - see INTM164440).
- Education cess when it is payable as a surcharge on income tax but not when it is imposed as a surcharge on excise or customs duties.
Admissible for unilateral relief:
- Income tax (`freight tax’) charged at income tax rate for non-resident companies on 7.5 per cent of the gross freight earnings.
Wealth tax (abolished in 2015)