TMI BlogAvoidance of double taxationX X X X Extracts X X X X X X X X Extracts X X X X ..... 2. (a) The amount of Zambian tax payable, under the laws of Zambia and in accordance with the provisions of this Convention, whether directly or by deduction, by a resident of India, in respect of income from sources within Zambia which has been subjected to tax both in India and Zambia, shall be allowed as a credit against the Indian tax payable in respect of such income provided that such credit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a) The amount of Indian tax payable, under the laws of India and in accordance with the provisions of this Convention, whether directly or by deduction, by a resident of Zambia in respect of income from sources within India which has been subjected to tax both in India and Zambia shall be allowed as a credit against Zambian tax payable in respect of such income provided that such credit shall not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of moneys lent by him to the Government or local authority in India; (b) an approved foreign financial institution in respect of interest on moneys lent by it to an industrial undertaking in India under a loan agreement; and (c) a non-resident in respect of interest on moneys lent or credit facilities allowed by him to an industrial undertaking in India for the purchase outside India of raw mater ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 80K - relating to deduction in respect of dividends attributable to profits and gains from eligible industrial undertakings or ships or hotels ; (xii) any other provisions which may subsequently be enacted granting an exemption or reduction of tax which the competent authorities of the Contracting States agree to be for the purposes of economic development. 4. Income which, in accorda ..... X X X X Extracts X X X X X X X X Extracts X X X X
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