Elimination of double taxation: Finland permits tax credit or dividend exemption for Finnish residents on India taxed income. Finland relieves double taxation by allowing a deduction from Finnish tax equal to Indian tax paid computed on the same income, and exempts dividends paid to a Finnish resident company controlling at least 10 per cent of voting power in the Indian payer. India allows a deduction from Indian tax equal to tax paid in Finland on income taxable in Finland, limited to the portion of tax attributable to that income. A contracting State that exempts income may still take the exempted income into account when computing tax on the remaining income.
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Provisions expressly mentioned in the judgment/order text.
Elimination of double taxation: Finland permits tax credit or dividend exemption for Finnish residents on India taxed income.
Finland relieves double taxation by allowing a deduction from Finnish tax equal to Indian tax paid computed on the same income, and exempts dividends paid to a Finnish resident company controlling at least 10 per cent of voting power in the Indian payer. India allows a deduction from Indian tax equal to tax paid in Finland on income taxable in Finland, limited to the portion of tax attributable to that income. A contracting State that exempts income may still take the exempted income into account when computing tax on the remaining income.
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