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of <h1>India-Finland DTAA Article 12: Interest Income Taxed in Both States with 10% Cap, Exemptions for Key Banks.</h1> Article 12 of the Double Taxation Avoidance Agreement (DTAA) between India and Finland outlines the taxation of interest income. Interest arising in one Contracting State and paid to a resident of the other may be taxed in the recipient's state but is also taxable in the state of origin, capped at 10% of the gross amount. Exemptions apply for specific financial institutions, such as the Bank of Finland and the Reserve Bank of India. Interest is defined broadly, excluding penalty charges for late payments. Exceptions apply if the interest is connected to a permanent establishment or special relationship influencing the interest amount.
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