Dtaa
This query is : Resolved
CA Jenish Vira
(Querist)
29 December 2011
Wanted to know India -Taiwan dont have DTAA, in that case what to refer ?
Nature of Payment is Freight Charges..
Thanks.
Nature of Payment is Freight Charges..
Thanks.
chetan soni
(Expert)
29 December 2011
Please refer sec. 91 of Income tax act.
It says;
If any person who is resident in India in any previous year proves that, in respect of his income which accrued or arose during that previous year outside India (and which is not deemed to accrue or arise in India), he has paid in any country with which there is no agreement under section 90 for the relief or avoidance of double taxation, income-tax, by deduction or otherwise, under the law in force in that country, he shall be entitled to the deduction from the Indian income-tax payable by him of a sum calculated on such doubly taxed income at the Indian rate of tax or the rate of tax of the said country, whichever is the lower, or at the Indian rate of tax if both the rates are equal.
Eg:
Lets say if this income is chargeable @ 30% in India & 15% in twain then relief would be equal to 15% of such tax about.
I hope i am clear in explaining you.
It says;
If any person who is resident in India in any previous year proves that, in respect of his income which accrued or arose during that previous year outside India (and which is not deemed to accrue or arise in India), he has paid in any country with which there is no agreement under section 90 for the relief or avoidance of double taxation, income-tax, by deduction or otherwise, under the law in force in that country, he shall be entitled to the deduction from the Indian income-tax payable by him of a sum calculated on such doubly taxed income at the Indian rate of tax or the rate of tax of the said country, whichever is the lower, or at the Indian rate of tax if both the rates are equal.
Eg:
Lets say if this income is chargeable @ 30% in India & 15% in twain then relief would be equal to 15% of such tax about.
I hope i am clear in explaining you.
CA. Anuj Gupta
(Expert)
03 January 2012
see sec 172
Anuj
+91-9810106211
femaquery@gmail.com
Anuj
+91-9810106211
femaquery@gmail.com
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