(1) If the sum of tax credits under Article 59-4 (1) through (3) of this Act and Article 95-2 of the Restriction of Special Taxation Act exceeds the calculated tax amount on global income for the resident's wage and salary income specified by Presidential Decree for the relevant taxable period, the excess shall be deemed nil.
(2) If the sum of the tax credit for children under Article 59-2, the tax credit for pension accounts under Article 59-3, the special tax credits under Article 59-4, and the tax credits under Articles 76 and 88-4 (13) of the Restriction of Special Taxation Act exceeds the resident's calculated tax amount on global income, which shall be aggregated for taxation for the relevant taxable period (excluding the calculated tax amount specified by Presidential Decree on interest income and dividend income to which withholding tax rates shall apply pursuant to Article 62; hereafter referred to as "deductible standard calculated tax amount" in this Article), the excess shall be deemed nil: Provided, That, if the excess includes the tax credit for a donation, the tax credit for the donation and the donation that is not deducted because it exceeds the maximum limit under Article 59-4 (4) 2 shall be calculated by carrying over the donations to the taxable years that end within 10 years from the commencement date of the taxable period immediately following the relevant taxable period and by applying the rate specified in Article 59-4 (4) and shall be deducted from the deductible standard calculated tax amount. <Amended by Act No. 16104, Dec. 31, 2018; Dec. 29, 2020>
(3) If the sum of the tax exemption and reduction and tax credits under this Act and the Restriction of Special Taxation Act exceeds the calculated tax amount on global income, which shall be aggregated for taxation for the relevant taxable period, the excess shall be deemed nil, and it shall be deemed that the tax credit for pension accounts has not been granted up to the excess: Provided, That, if the tax credit for casualty loss under Article 58 exceeds the amount calculated by subtracting other tax exemptions and reductions and tax credits from the calculated amount on global income tax and then adding a penalty tax to the amount so calculated, the excess shall be deemed nil.[This Article Newly Inserted by Act No. 12852, Dec. 23, 2014]