Avoidance of double taxation

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..... o the contrary is made in this Agreement. 2. Where a resident of India derives income or owns capital which, in accordance with the provisions of this Agreement, may be taxed in Cyprus, India shall allow as a deduction from the tax on the income of that resident an amount equal to the income-tax paid in Cyprus whether directly or by deduction; and as a deduction from the tax on the capital of that .....

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..... d that part of the tax, as computed before the deduction is given, which is appropriate to such income derived in India. 4. The tax payable in a Contracting State mentioned in paragraph 2 and paragraph 3 of this Article shall be deemed to include the tax which would have been payable but for the tax incentives granted under the laws of the Contracting States and which are designed to promote econo .....

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