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of <h1>Interest Taxed in Both India and UAR, Includes Government Securities and Bonds, Prevents Double Taxation Under International Convention.</h1> Interest paid by a resident of India to a resident of the United Arab Republic (UAR) may be taxed in India, and vice versa. In the UAR, such interest is subject to specific taxes, including those on income from movable capital, and may also incur general income tax if paid to an individual. The term 'interest' includes income from government securities, bonds, and debt-claims, excluding mortgage-secured debts. Interest is considered to arise in the state where the payer resides or has a permanent establishment. These provisions aim to prevent double taxation as per the relevant international convention.
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