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[Cites 0, Cited by 0] [Section 206(1)] [Section 206] [Entire Act]

Union of India - Subsection

Section 206(1)(n) in The Income Tax Act, 2025

(n)While allowing credit under clause (m),––
(i)no interest shall be payable on the tax credit so allowed; and
(ii)where tax credit in respect of any income-tax paid in any country or specified territory outside India, under section 159(1) or (2), allowed against the minimum alternate tax exceeds such tax credit admissible against the tax payable by the assessee on its income as per the other provisions of this Act, then, while computing the credit under clause (m), such excess amount shall be ignored.