New Delhi, Feb. 23 -- India and France have signed a Protocol amending the India-France Double Taxation Avoidance Convention, providing full taxing rights in respect of capital gains arising from the sale of shares of a company, to the jurisdiction where such company is a resident.
The protocol was signed during the recent visit of the President of France to India.
The Amending Protocol also deletes the so-called Most-Favoured-Nation (MFN) Clause from the Protocol to the DTAC, thereby bringing to rest all issues relating to it.
The Amending Protocol also modifies the taxation of income from dividends by replacing a single rate of 10 percent of tax with a split rate of 5 percent for those holding at least ten percent of capital and 15 per...