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TMI BlogAgreement with foreign countries or specified territoriesX X X X Extracts X X X X X X X X Extracts X X X X ..... be, to promote mutual economic relations, trade and investment, or (b) for the avoidance of double taxation of income under this Act and under the corresponding law in force in that country or specified territory, as the case may be, 15 [ without creating opportunities for non-taxation or reduced taxation through tax evasion or avoidance (including through treaty-shopping arrangements aimed at obtaining reliefs provided in the said agreement for the indirect benefit to residents of any other country or territory), ] or (c) for exchange of information for the prevention of evasion or avoidance of income-tax chargeable under this Act or under the corresponding law in force in that country or specified territory, as the case may be, o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt unless 12 [a certificate of his being a resident] in any country outside India or specified territory outside India, as the case may be, is obtained by him from the Government of that country or specified territory. [(5) The assessee referred to in sub-section (4) shall also provide such other documents and information, as may be prescribed.] Explanation 1.- For the removal of doubts, it is hereby declared that the charge of tax in respect of a foreign company at a rate higher than the rate at which a domestic company is chargeable, shall not be regarded as less favourable charge or levy of tax in respect of such foreign company. Explanation 2.- For the purposes of this section, specified territory means any area ou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Finance (No. 2) Act, 1991, w.r.e.f. 1-4-1972. 5. Inserted by the Finance Act, 2003, w.e.f. 1-4-2004. 6. Inserted by the Finance Act, 2001, w.r.e.f. 1-4-1962. 7. Words , where such foreign company has not made the prescribed arrangement for declaration and payment within India, of the dividends (including dividends on preference shares) payable out of its income in India omitted by the Finance (No. 2) Act, 2004, w.r.e.f. 1-4-1962. 8. Substituted vide Finance (No.2) Act, 2009, w.e.f. 1-10-2009, before it was read as, 1 [Agreement with foreign countries. 90. 2 [ (1) ] The Central Government may enter into an agreement with the Government of any country outside India- 3 [ ( a ) for the granting ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his Act or the agreement, have the same meaning as assigned to it in the notification issued by the Central Government in the Official Gazette in this behalf. ] 6 [ Explanation .- For the removal of doubts, it is hereby declared that the charge of tax in respect of a foreign company at a rate higher than the rate at which a domestic company is chargeable, shall not be regarded as less favourable charge or levy of tax in respect of such foreign company 7 [ *** ].] 9. Inserted vide Finance Act, 2012, w.e.f. 01-4-2013. 10. Omitted vide Finance Act 2013 , before it was read as (2A) Notwithstanding anything contained in sub-section (2), the provisions of Chapter X-A of the Act shall apply to the assessee, even if such p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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