TMI BlogInterestX X X X Extracts X X X X X X X X Extracts X X X X ..... wner of the interest the tax so charged shall not exceed : (a) 10% of the gross amount of interest if the interest is received by a financial institution (including insurance companies) ; (b) the Philippine tax on interest paid by a company which is a resident of the Philippines to a resident of India in respect of public issues of bonds, debentures or similar obligations shall not exceed 10 p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any person [other than a person referred to in sub-paragraph (a)] who is a resident of the other Contracting State, provided that the transaction giving rise to the debt-claim has been approved in this regard by the Government of the first-mentioned Contracting State. 4. The term interest as used in this Article means income from debt-claims of every kind, including sales on credit of any indus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e debt-claim in respect of which the interest is paid is effectively connected with such permanent establishment or fixed base. In such case, the provisions of Article 7 or Article 15, as the case may be, shall apply. 6. Interest shall be deemed to arise in a Contracting State when the payer is that Contracting State itself, a political sub-division, a local authority or a resident of that State ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h relationship, the provisions of this Article shall apply to the last mentioned amount. In such case, the excess part of the payments shall remain taxable according to the laws of each Contracting State, due regard being had to the other provisions of this Convention. - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxman ..... X X X X Extracts X X X X X X X X Extracts X X X X
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