Countries with which no agreement exists

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..... or the relief or avoidance of double taxation, a tax in respect of wealth, under the law in force in that country, he shall be entitled to the deduction from the Indian wealth-tax payable by him of a sum calculated on such doubly taxed foreign wealth at the Indian rate of tax or the rate of tax of the said country, whichever is the lower, or at the Indian rate of tax if both the rates are equal. .....

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..... h assessed in the said country ; (4) the expression "foreign wealth", in relation to any assessee, means the value of all his assets located in any country outside India as reduced by the value of his debts in that country.] -------------------- Notes:- 1. Inserted vide Wealth-tax (Amendment) Act, 1964, w.e.f. 1-4-1965. - - statute, statutory provisions legisla .....

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