Agreement between the Govt. of India and the Union of Soviet Socialist Republics for the avoidance of double taxation of income from the carriage of cargo - 0419(E) - Income Tax Act, 1961
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Shipping agreement modification: operation and taxation of Soviet lighter carriers subject to bilateral rules and specified payment and port call conditions. Notification under section 90 gives effect to an exchange of letters modifying the Indo Soviet Shipping Agreement by treating two Soviet lighter carriers as covered by the 1976 agreement. Cargoes handled by Interlighter between India and co owners' countries are subject to existing bilateral shipping agreements where they exist, otherwise no special concessions apply. Disbursements and port dues must be paid in Indian rupees for cargoes involving rupee payment countries and in freely convertible foreign exchange for cargoes involving non rupee payment countries. The vessels are restricted to calls at the Port of Bombay with a capped number of calls and the arrangement is reviewable by mutual consent.
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Shipping agreement modification: operation and taxation of Soviet lighter carriers subject to bilateral rules and specified payment and port call conditions.
Notification under section 90 gives effect to an exchange of letters modifying the Indo Soviet Shipping Agreement by treating two Soviet lighter carriers as covered by the 1976 agreement. Cargoes handled by Interlighter between India and co owners' countries are subject to existing bilateral shipping agreements where they exist, otherwise no special concessions apply. Disbursements and port dues must be paid in Indian rupees for cargoes involving rupee payment countries and in freely convertible foreign exchange for cargoes involving non rupee payment countries. The vessels are restricted to calls at the Port of Bombay with a capped number of calls and the arrangement is reviewable by mutual consent.
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