Section 22 - Insertion of New Section 24a In Act 7 of 1964 - Finance (No. 2) Act, 1965

22. Insertion of New Section 24a In Act 7 of 1964 After section 24 of the Companies (Profits) Surtax Act, 1964, the following section shall be inserted, namely :- 24A. Agreement with foreign countries. - The Central Government may enter into an agreement - (a) with the Government of any country outside India for the granting of relief in respect of chargeable profits on which have been paid both surtax under this Act and tax of a similar character or income-tax on such profits in that country, or (b) with the Government of any country outside India for the avoidance of double taxation of chargeable profits under this Act and under any law relating to the taxation of income or profits in force in that country. .