TMI BlogInterestX X X X Extracts X X X X X X X X Extracts X X X X ..... ial owner of the interest, the tax so charged shall not exceed 10 per cent of the gross amount of the interest.] 3. Notwithstanding the provisions of paragraph 2 : (a) interest arising in a Contracting State shall be exempt from tax in that Contracting State provided it is derived and beneficially owned by : (i) the Government, a political sub-division or local authority of the other Con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her Contracting State in charge of the public financing of external trade. 4. The term interest as used in this article means income from debt-claims of every kind, whether or not secured by mortgage and whether or not carrying a right to participate in the debtors profits, and in particular, income from Government securities and income from bonds or debentures, including premiums and prizes at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a Contracting State when the payer is that Contracting State itself, a political sub-division, a local authority or a resident of that Contracting State. Where, however, the person paying the interest, whether he is a resident of a Contracting State or not, has in a Contracting State a permanent establishment or a fixed base in connection with which the indebtedness on which the interest is paid w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns of this Convention. ******* Notes 1. Substituted vide NOTIFICATION S.O. 2106 (E) DATED 12-08-2009 before it was read as (ii) the Reserve Bank of India in the case of India and the Banque de France in the case of France; or - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxm ..... X X X X Extracts X X X X X X X X Extracts X X X X
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