Article 24 - Elimination of Double Taxation - Albania

ARTICLE 24 ELIMINATION OF DOUBLE TAXATION Double taxation shall be eliminated as follows: 1. In Albania: (a) Where a resident of Albania derives income or owns capital which, in-accordance with the provisions of this Agreement may be taxed in India, Albania shall allow: (i) as a deduction from the Albanian tax on the income of that resident an amount equal to the income tax paid in India; and (ii) as a deduction from the Albanian tax on the capital of that resident, an amount equal to the capital tax paid in India. Such deduction in either case shall not, however, exceed that part of the Albanian tax on income or on capital as computed before the deduction is given, which is attributable, as the case may be, to the income or the capital which may be taxed in India. (b) Where in accordance with any provision of the Agreement income derived or capital owned by a resident of Albania is exempt from tax in Albania, Albania may nevertheless, in calculating the amount of tax on the remaining income or capital of such resident take into account the exempted income or capital. 2. In India: (a) Where a resident of India derives income or owns capital which, in accordance with the provisions of this Agreement, may be taxed in Albania, India shall allow as a deduction from the tax on the income or capital of that resident, an amount equal to the tax paid in Albania. Such deduction shall not, however, exceed that portion of the tax as computed before the deduction is given, which is attributable, as the case may be, to the income or capital which may be taxed in Albania. (b) Where in accordance with any provision of the Agreement income derived or capital owned by a resident of India is exempt from tax in India, India may nevertheless, in calculating the amount of tax on the remaining income or capital of such resident, take into account the exempted income or capital.