Avoidance of double taxation

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..... anian tax payable, under the laws of Romania and in accordance with the provisions of this Convention, whether directly or by deduction, by a resident of India, in respect of profits or income arising in Romania, which has been subjected to tax both in India and in Romania, shall be allowed as a credit against Indian tax payable in respect of such profits or income provided that such credit shall .....

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..... credit that shall not exceed Romanian tax (as computed before allowing any such credit) which is appropriate to the profits or income arising in India. For the purposes of this paragraph, profits paid by the Romanian State enterprises to the State budget shall be deemed to be Romanian tax. 4. For the purposes of the credit referred to in paragraph (3), the term Indian tax payable shall be deem .....

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