https://www.taxtmi.com/acts?id=20277 Business profits are taxable only in the State of residence unless an enterprise carries on business through a permanent establishment in the other State, in which case only profits attributable to that permanent establishment may be taxed there. Attributed profits must reflect what the permanent establishment would earn as a distinct and separate enterprise dealing independently, allowing deductions for expenses incurred for the permanent establishment subject to local tax law limits, while excluding inter-office charges (other than reimbursements) for royalties, fees, commissions, management charges and, except for banking, interest. en-us Mon, 28 Dec 2015 12:30:19 +0530 Tue, 26 Nov 2024 15:52:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20277 Business profits are taxable only in the State of residence unless an enterprise carries on business through a permanent establishment in the other State, in which case only profits attributable to that permanent establishment may be taxed there. Attributed profits must reflect what the permanent establishment would earn as a distinct and separate enterprise dealing independently, allowing deductions for expenses incurred for the permanent establishment subject to local tax law limits, while excluding inter-office charges (other than reimbursements) for royalties, fees, commissions, management charges and, except for banking, interest. Act-Rules DTAA Mon, 28 Dec 2015 12:30:19 +0530 https://www.taxtmi.com/acts?id=20277