Reciprocal tax exemption for international shipping and air transport income, exempting resident carriers from foreign income tax. Amendment to the India-United States double taxation arrangement establishes a reciprocal tax exemption for income from international operations of ship and aircraft operators: Air India, its wholly owned subsidiaries and Indian resident shipping enterprises are exempt from U.S. income tax on international operations from 1 January 1987, and equivalent exemption is extended to U.S. resident enterprises in India.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Reciprocal tax exemption for international shipping and air transport income, exempting resident carriers from foreign income tax.
Amendment to the India-United States double taxation arrangement establishes a reciprocal tax exemption for income from international operations of ship and aircraft operators: Air India, its wholly owned subsidiaries and Indian resident shipping enterprises are exempt from U.S. income tax on international operations from 1 January 1987, and equivalent exemption is extended to U.S. resident enterprises in India.
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