17 March 2012
The rights which are lying at foreign lands; if sold at foreign land; then tax is not applicable in India. . The concept is based on Taxation of NRI of India. NRIs who earn income in foreign countries; how we would be able to know/control their income activities. Would it be possible to bring here all the records if such cases are selected for scrutiny. . Double Taxation Avoidance Agreements are also based on that concept. . If one income is assessable in the country of its origin; then other country should not tax the same income. . Please see the following link : . http://www.civitas.in/legal_solutions/articles/3/Vodafone_Tax_case_-_A_Case_Study_for_Investments_in_India
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