Article 23 - Methods for Elimination of Double Taxation - Armenia

ARTICLE 23 METHODS FOR ELIMINATION OF DOUBLE TAXATION Double taxation shall be eliminated as follows : 1. In India : (a) Where a resident of India derives income which, in accordance with the provisions of this Convention, may be taxed in Armenia, India shall allow as a deduction from the tax on the income of that resident, an amount equal to the income-tax paid in Armenia. Such deduction shall not, however, exceed that part of the income-tax as computed before the deduction is given, which is attributable, as the case may be, to the income which may be taxed in Armenia. (b) Where in accordance with any provision of the Convention income derived by a resident of India is exempt from tax in India, India may nevertheless, in calculating the amount of tax on the remaining income of such resident, take into account the exempted income. 2. In Armenia : (a) Where a resident of Armenia derives income which, in accordance with the provisions of this Convention, may be taxed in India, Armenia shall allow as a deduction from the tax on the income of that resident, an amount equal to the income-tax paid in India. Such deduction shall not, however, exceed that part of the income-tax, as computed before the deduction is given, which is attributable, as the case may be, to the income which may be taxed in India. (b) Where in accordance with any provision of the Convention income derived by a resident of Armenia is exempt from tax in Armenia, Armenia may nevertheless, in calculating the amount of tax on the remaining income of such resident taken into account the exempted income.