Benefit of India – UK tax treaty to UK Partnerships clarified
In light of the Amended Protocol to the India – UK tax treaty (notified in February 2014), the CBDT has clarified that the benefits of the India – UK tax treaty would be applicable to a partnership, estate or trust that is a resident of India or UK. The benefits will however be limited to the extent that the income derived by such partnership, estate or trust is subject to tax in that State as the income of a resident, either in its own hands or in the hands of its partners or beneficiaries.
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