Double Taxation avoidance - India-Taipei Association Notified
SECTION 90A of the Income Tax Act, reads as:-
Adoption by Central Government of agreement between specified associations for double taxation relief.
90A. (1) Any specified association in India may enter into an agreement with any specified association in the specified territory outside India and the Central Government may, by notification in the Official Gazette, make such provisions as may be necessary for adopting and implementing such agreement-
(a) for the granting of relief in respect of-
(i) income on which have been paid both income-tax under this Act and income-tax in any specified territory outside India; or
(ii) income-tax chargeable under this Act and under the corresponding law in force in that specified territory outside India to promote mutual economic relations, trade and investment, or
(b) for the avoidance of double taxation of income under this Act and under the corresponding law in force in that specified territory outside India, or
(c) for exchange of information for the prevention of evasion or avoidance of income-tax chargeable under this Act or under the corresponding law in force in that specified territory outside India, or investigation of cases of such evasion or avoidance, or
(d) for recovery of income-tax under this Act and under the corresponding law in force in that specified territory outside India.
(2) xxxxx
(3) xxxxx
Explanation 1.- xxxxx
Explanation 2. - For the purposes of this section, the expressions-
(a) “specified association” means any institution, association or body, whether incorporated or not, functioning under any law for the time being in force in India or the laws of the specified territory outside India and which may be notified as such by the Central Government for the purposes of this section;
(b) “specified territory” means any area outside India which may be notified as such by the Central Government for the purposes of this section.
Now the Government has notified the territory in which the taxation law administered by the Ministry of Finance in Taipei is applied ; as the specified territory and the ‘India-Taipei Association in Taipei' and the ‘Taipei Economic and Cultural Centre in New Delhi' as the “specified association”.
CBDT Notification No. 93 /2009/F.No.200/09/2009-ITA.I: Dated December 09 2009