Taxmann's International Taxation – A Compendium (Set of 4 Volumes)

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Every effort has been made to avoid errors or omissions in this publication. In spite of
this, errors may creep in. Any mistake, error or discrepancy noted may be brought to
our notice which shall be taken care of in the next edition. It is notified that neither
the publisher nor the chamber or seller will be responsible for any damage or loss
of action to any one, of any kind, in any manner, therefrom. It is suggested that to
avoid any doubt the reader should cross-check all the facts, law and contents of the
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[graphic, electronic or mechanical, including photocopying, recording, taping, or
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I-iii
Vision Statement
“The Chamber of Tax Consultants (The Chamber) shall be a power-
house of knowledge in the field of fiscal laws in the global economy.”
The Chamber shall contribute to the development of law and the
professionthroughresearch,analysisanddisseminationofknowledge.
The Chamber shall be a voice which is heard and recognized by
all Government and Regulatory agencies through effective repre-
sentations.
The Chamber shall be pre-eminent in laying down and upholding,
among the professionals, the tradition of excellence in service,
principled conduct and social responsibility.
VISION STATEMENT

I-v
The Chamber of Tax Consultants (The Chamber) was established in
the year 1926 and is one of the oldest voluntary non-profit making
professional organisations formed.
The Chamber is into its 95th
year and is a dynamic organisation
which has a glorious past and undisputedly ambitious future.
The Chamber has about 4,000 members pan India, which com-
prise Chartered Accountants, Lawyers, Company Secretaries, Cost

Accountants, Income-tax Practitioners, Students, etc.
The Chamber acts as powerhouse of knowledge in the field of fiscal
law, contributes to the development of law and profession through
research, analysis and dissemination of knowledge. The Chamber
shall be pre-eminent in upholding among the professional, tradition
of excellence in service, principle conduct, and social responsibility.
The Chamber is an institution with a tradition of high integrity,
independence and professionalism. Renowned professionals like
Dr. Y.P. Trivedi, Shri Sohrab E. Dastur, Shri V.H. Patil, Shri S.N.
Inamdar, Shri Narayan Varma and Shri Pradip Kapasi have served
as the Chamber’s Presidents.
The Chamber disseminates knowledge by holding Workshops,

Seminars, Lecture Meetings, Study Circle and Study Group Meetings,
Outstation Residential Conferences, etc. for the benefit of members
which keep them up-to-date with the latest developments in the
field of Law. Keeping in pace with the technology, the Chamber has
also successfully conducted around a century of webinars in the
“lockdown” period on various professional subjects, especially for
members from distant places. Through its various orientation and
advance courses dedicated to new areas of expertise it empowers
young professionals to build their careers in unconventional
practice
ABOUT THE CHAMBER OF TAX
CONSULTANTS

International Taxation – A Compendium
I-vi
areas. It functions through various 14 effective sub-committees
comprising above 300 core committee members.
‘The Chamber’s Journal’ which is its mouthpiece, is very popular
amongst the professionals and Corporates as well, mainly because
of in-depth analysis on topical issues (theme based). The
Chamber’s
Journal has found a permanent place in libraries of leading tax
professionals.
In addition, the Chamber also comes out with a quarterly ‘In-
ternational Tax Journal’, a journal for advanced cross border tax
practitioners, and ‘Jignyasa’, ‘Learning today - Leading Tomorrow’,
a quarterly ‘E-Journal’ for students.
The Chamber has always stood up for professionals, people by
making effective representations before the Government and Regu-
latory authorities. It has its echoes in Govt. and ministries as well.
Professional’s look upon Chamber as an institution which can take
its voice to the court of law, whenever required.
The Chamber is instrumental in filing Public Interest Litigation
against the Regulatory authorities, it represents pre and post
budget
memorandum and making representation on various Tax Allied
and Corporate Laws to the Government and regulatory authorities.
The Chamber organises many events for the knowledge of
Students.
The Dastur Essay Competition, which is an Annual feature, is
one of such activities where students across India and even from
outside India participate with great enthusiasm. This competition
serves the purpose of developing the habit of developing writing
skills amongst the students who are the future of the profession.
The committee also organises a debate competition and a tax moot
court competition for the students.
The Chamber manages two libraries at prominent places like

Aayakar Bhawan and Pratyakshakar Bhawan, Mumbai which are
widely used by the professionals.
For more information, please visit the Chamber’s website
www.ctconline.org.

I-vii
Dear readers,
It is often said - यथा चतुर्भिः कनक
ं परीक्ष्यते
ननकर्भणछेदनतापताड्नैः। तथा चतुर्भिः पुरुषः परीक्ष्यते
श्रुतेन शीऱेन क
ु ऱेन कर्भणा॥
...which means - Just as the purity of gold is tested by
four means, namely - rubbing, cutting, burning and
beating so also man is tested by four means, namely
- learning, conduct, pedigree and action.
Similarly as these four means mentioned above,
duringthestartoftheyear,inmyfirstcommunicationin
TheChamber’sJournalinJuly2018,Ihadmentionedfour
pillars of Chambers namely – Programs, Membership,
Visibility and Vision.
‘Vision without action is merely a dream;
Action without vision just passes time; Vision with
action can change the world!’
In Swami Vivekananda’s words – ‘Education is the
manifestation of the perfection, already in man!’ and the way it is
always said, ‘An investment in knowledge pays the best interest!’
With the growing pace of cross-border trade and leaping
the businesses across the national boundaries, International taxation
becomes an important subject to study because with growing
globalization comes growing erosion of national tax systems, using
liberalisation and deregulation, tax loopholes and tax havens to
evade taxes on a large scale.
PRESIDENT AND THE CHAIRMAN-
INTERNATIONAL TAXATION
COMMITTEE MESSAGE
2018-19
HINESHR.DOSHI,
PRESIDENT
RAJESH P. SHAH,
CHAIRMAN, ITC

I-viii
Years 2019 and 2020 will mark a major shift in the focus
away from base erosion and profit shifting (BEPS) to a wider topic
dealing with the use of computers and digitalization of the global
economy. Nations will need to address the Global tax Challenges
arising from Digitalization covering Pillar 1 – Profit Allocation
and Nexus, Pillar 2 – Minimum Taxes and Taxes on Base Eroding
Payments and next steps including Tax Treaties and the Multilateral
Instruments.
In 2013, a detailed and a comprehensive 3rd
edition of
“InternationalTaxation-ACompendium”containingapproximately
4000 pages was released when, I was the Chairman of International
Tax Committee, which served as a ready reference material to all the
members and benefited them at large to get an insight knowledge
on cross border taxation.
A vibrant, updated, profound and covering more range of
topics - The 4th
edition of “International Taxation - A Compendium”
was launched this year, which is spread over four volumes and has
an approximate of 135+ chapters, and is written by 250+ authors
running into 5000+ pages. The Compendium was released by
Hon’ble Justice D.S. Naidu and Dr. Y.P. Trivedi on the AGM held
on 4th
July, 2019.
This Edition will also cover recent developments in
international tax policy, Nuances in interpretation of the MLI and
PPT: A new standard for treaty benefit entitlement, Taxation of the
digital economy – ALP+, Trending international tax controversies
in India, Changing horizon in international tax dispute resolution,
Latest trends in transfer pricing controversies etc.
The work cycle began with conceiving the topics with apt
title, designing the contents of each of such topics, drawing Index
and appropriate placement of such topics in each of the four volumes
to give the reader a proper and a sequential flow, appointing &
coordinating with the authors and carefully considering aesthetic
aspects of look and feel of the Compendium. Each of these tasks has
required multitudinous man-hours of commitment of the members
of the Chamber.
The authors to this Compendium comprise a perfect
combination of young minds and senior experts who came together
to create this ocean of knowledge. We are thankful to every author
who have contributed their valuable time and knowledge to make

I-ix
this Compendium see light of the day. It is an extremely unique
feat where 250+ authors came together in one single publication!
I am confident that the 4th
edition of “International Taxation-
A Compendium” will serve as a useful reference for all members,
tax practitioners and professionals in India and around the world. I
am extremely delighted and thrilled to see the fourth edition to be
equally comprehensive as the previous three editions and it would
be a pride to see the fourth addition being added to the library
shelf and Hall of Fame of the Chamber. This Compendium would
also assist the Judiciary and Administrative authorities as a useful
reference material for analysis and getting a perspective as per
the recent developments taking place in the field of International
Taxation.
‘No one can whistle a symphony! It takes a whole orchestra
to play it!’
This is exactly what defines the Chamber – where a team
together comes forth to create history! Without team-work, the
dedicated and tireless efforts, achieving this feat wouldn’t have
been possible.
I would like to convey my heartfelt gratitude to Shri Jimit
Devani, Kartik Badiani, Tarunkumar G. Singhal, Rajesh L Shah, Kirit
Dedhia and D.S. Sharma for their tireless efforts and assistance. I
would like to convey my gratitude to each and every author who
has given his contribution through sharing his knowledge, insights
and experiences which would further help thousands more to
increase their knowledge base and understand the subject at length
and in-depth. My special thanks to Shri Tarunkumar G. Singhal for
always guiding me and pushing this Compendium to its logical end.
I would like to also offer my heartfelt gratitude to the
Incoming President Shri Vipul Choksi, Incoming Vice President Shri
Anish Thacker and Incoming Chairman of International Taxation
Committee, Shri Rajesh L Shah under whose able supervision and
leadership, the Compendium shall see light of the day and shall
be published and released. I also appreciate sincere guidance and
support from our Advisor Shri Dilip Bhai Thakkar, without whose
blessings, this Compendium could not be completed.
My sincere gratitude to Shri Nilesh Bhanushali of Taxmann
Publications Pvt. Ltd. (‘Taxmann’) for agreeing to render us
President & Chairman - ITC Message 2018-19

I-x
unmatched support and co-operation for printing and distributing
this publication as also to Ms. Bindu Mistry from the Chamber’s
office for all her support and assistance in co-ordination.
I would like to end with a simple quote – ‘Let’s never stop
learning, because life never stops teaching!’ Let us keep the process
of learning and imparting knowledge on and let there never be a
void or end to this cycle of continuous learning!
We would be really happy to get suggestions and feedbacks
from our readers, which shall be of great value in correcting our
unintentional errors, if any and also getting views for our next
edition. An e-mail can be sent to office@ctconline.org or president@
ctconline.org for your valuable feedback or suggestion.
Till the time, 5th
Edition is released, we wish our reader
a very educative and contentful reading of our 4th Edition of
International Taxation - A Compendium.
Let us together Advance, Build and Connect – Advance
to greater horizons, Build professionals to leaders and connect to
allure stronger bonds.
Pranam!
Hinesh R. Doshi Rajesh P. Shah
President Chairman, International
Taxation Committee
Mumbai, 4th
July, 2019

I-xi
Dear Readers,
Tax is a subject that confused even the great
Albert Einstein and it is equally trite that one cannot
escape death and taxes. Yet the cat and mouse duel
between taxpayers and tax gatherers continues merrily.
Withtimesconstantlychanging, andbusinessbecoming
more complex, particularly with technology invading
business completely, the duel has reached a different
plane altogether. Throw in country borders and
endeavour to maximise tax collection by all countries
into the mix, and the situation becomes a complicated
mosaic that even the most learned and competent
tax professionals, struggle to come to grips with the
present challenges engaging the tax world.
In this country, where at one point in time,
advising on cross border tax issues started off as a domain of those
firms which had their own global networks, today the scenario
is quite different. With the Vodafone tax dispute making India
a case study for the world at large, the practice of cross border
tax generated keener interest in India as well. Country borders
not being as relevant given the all-pervasive reach of technology
made the practice of cross border tax advice spread its wings to
others as well. Though the number of tax advisors specialising in
this field may not be as much as may still be small, the number is
steadily and successfully increasing. What is heartening to see is
that youngsters, who from their formative years, have seen global
trade and now, witnessing the global reach of the services industry,
are embracing the practice readily.
Malcom X has said “Education is the passport to the future,
fortomorrowbelongstothosewhoprepareforittoday”.TheChamber
PRESIDENT AND THE CHAIRMAN
- INTERNATIONAL TAXATION
COMMITTEE MESSAGE 2019-20
VIPULK.CHOKSI,
PRESIDENT
RAJESH L. SHAH,
CHAIRMAN, ITC

I-xii
has always been proactive and at the forefront when it comes to
educating members on new vistas in their span of practice and with
that end in mind, as far back as 2005, brought out a compendium
of in-depth and incisive articles on international taxation, which
served as a reference manual and indeed, a practice guide for
its readers. The Fourth edition of this compendium is now being
released, which is more current, more incisive, covers a broader
range of topics, and like its previous three editions, promises to
be another very useful tool in the library of tax professionals both
in India and overseas, because, for an overseas practitioner whose
clients do have touch points with or in India, this will serve as a
useful guide to at least give him/her the opportunity to gain a
deeper understanding of cross border tax issues of India.
We, on behalf of the Chamber’s International Taxation
Committee are pleased to bring this publication out. This project
has emerged baptised by the labour of love of some of the ‘Team
Compendium’ members which have really taken a deep personal
interest in bringing this compendium out. Jesse Owens has said “We
all have dreams, but to make dreams come into reality, it takes an
awful lot of determination, dedication, self-discipline and efforts”.
But for the monumental efforts of the “Team Compendium”, the
fourth edition of the Compendium would not have been possible. We
would like to convey our deepest gratitude to S/Shri Jimit Devani,
Kartik Badiani, Tarunkumar Singhal and D.S. Sharma for their
untiring efforts and unflagging determination and commitment to
see this publication through till its final release. We would also like
to thank each one of the authors who have shared their knowledge,
insight and experience with us, by way of their contribution to this
compendium.
We hope this compendium will equip its readers with better
knowledge and practical examples to be able to serve their clients
better. Judiciary and Tax administrators too, ought to find this a
useful reference point both for technical analysis as well as for
understanding the right perspective in which to view some of the
international tax developments of the recent past.
Our thanks to Immediate Past President, Shri Hinesh R.
Doshi and Immediate Past Chairman, Shri Rajesh P. Shah for
their encouragement and support of this monumental labour of
love and to supervise and harmonise the contribution of 100 plus
authors in this set of four volumes. Thanks also to Ms. Bindu

I-xiii
President & Chairman - ITC Message 2019-20
Mistry from the Chamber’s office for her help and support and to
Taxmann Publications Pvt. Ltd. (‘Taxmann’) for agreeing to print
and distribute this publication.
The journey which began in 2005 and has continued thus far
shall no doubt continue with the Chamber as and when thought
fit, coming out with revised and updated editions as Chamber
always believes in the words of Kirk Douglas “The learning process
continues until the day you die”. At this time, we would like to
take a pause and let you readers immerse yourself in this ocean
of insight and knowledge of international taxation.
Thank You,
Vipul K. Choksi Rajesh L. Shah
President
(2019-20)
Chairman, International
Taxation Committee

I-xv
To the Fourth Edition of International Taxation - A
Compendium
OnbehalfoftheChamber&InternationalTaxationCommittee,
we take immense pleasure in placing before you the Fourth Edition
of “International Taxation – A Compendium”.
The Chamber has been very active in the field of International
Taxation since 2005 under the aegis of International Taxation
Committee. The Compendium on International Taxation was an
endeavour by the Chamber started under the leadership of great
visionary late Shri N. K. Bhat to fulfil its dream to spread knowledge
and help aspiring readers to become world class experts in the field
of International Taxation.
The Chamber published the First Edition of the Compendium
containing 41 Articles on 11th
August, 2005. The Second Edition
containing 69 Articles was released on 9th
August, 2008. The third
edition of the Compendium contained 138 articles with contributions
from a cross section of experts in the field. This 4th
Edition contains
137 articles.
The need for the Fourth Edition of the Compendium was felt
due to incessant flow of judicial decisions, several amendments in
the Income-tax Act, 1961, after 2012 and major changes introduced
in OECD Model Tax Convention & Commentary - 2017 Update
and UN Model Convention, 2017 Update. Due to the ongoing
global economic crisis since 2008 and Fiscal & Debt Crisis faced
by most of the developed economies of the Western World, all the
Governments are focusing on combating Tax Evasion and taking
various Anti-Avoidance measures and tightening Anti Money
Laundering Laws. OECD has also recognised this with its BEPS
Action plan reports in October 2015 and consequently MLI has been
PREFACE

I-xvi
implemented and various countries have amended their domestic
tax laws to implement various recommendations and suggestions
contained in the BEPS Action plans.
This edition is an attempt to cover all these developments in
their proper perspectives. The book is divided into Four Volumes.
First Two Volumes contain articles explaining the theme/basic
concepts of Double Tax Avoidance Agreements & deal with
various Articles of the Model Tax Convention separately and also
specific provisions of the Domestic Law dealing with Taxation of
Non-Residents and Cross Border Transactions. The Third Volume
contains Industry Specific articles such as Taxation of Telecom
Sector, Broadcasting & Telecasting industry, Electronic Commerce,
Foreign Banks, Offshore Funds, FIIs etc. The Fourth Volume contains
articles on FEMA and other related Domestic Laws such as PMLA &
FCRA, Black Money Act, Benami Law and various Anti-Avoidance
Measures & other specialised articles.
We have attempted to ensure that this Compendium is a
balanced collection of articles by recognised experts in the field, by
young as well as eminent professionals and also by experienced
and knowledgeable Commissioners of Income-tax & Senior Ex-
Revenue Officials.
All authors have taken immense efforts and devoted
considerable time and resources to share their vast knowledge and
experience. The subject of International Taxation is still evolving and
each expert may have his own views on a given topic. These views
are not necessarily the views of the Chamber or the professional
firms to which the authors belong. Contrary and overlapping
opinions are in the nature of legal discussion & debate and should
help readers in understanding the intricacies of the subject to arrive
at own independent judgment on the issue.
We are extremely thankful to all the authors which included
Senior Commissioners and Ex-Revenue Officials for their kind
contributions to the Compendium.
We sincerely thank our “Team Compendium”, without their
whole hearted support and co-operation in diverse ways, it would
have been impossible to bring out this Compendium in such a short
time. They have put in substantial time and tremendous efforts for
bringing out this mammoth publication.

I-xvii
We are very thankful to CA Hinesh D. Doshi, Immediate
Past President, CA Rajesh P. Shah, Past Chairman of International
Taxation Committee, CA Vipul K. Choksi, President of the Chamber,
Shri Anish Mohan Thacker, Vice President and Shri Rajesh L. Shah,
Chairman of International Tax Committee, in giving us a free hand
in selection of the topics and the authors for this edition of the
Compendium and also giving constant encouragement and support
in bringing out this edition of the Compendium.
We are sure that this publication will be of immense help
equally to tax professionals, tax administrators & taxpayers. We
would be glad to receive your feedback.
Jimit Devani June, 2020 at Mumbai
Kartik Badiani
Tarunkumar G. Singhal
Durgashanker Sharma
Co-ordinators
Preface

I-xix
Managing Council 2018-19
Sr. No. Name Designation
1 Hinesh R. Doshi President
2 Vipul Choksi Vice President
3 Anish M. Thacker Hon. Jt. Secretary
4 Parag Ved Hon. Jt. Secretary
5 Ketan Vajani Hon. Treasurer
6 Ajay Singh Imm. Past President
7 Ashok Sharma Member
8 Bhadresh Doshi Member
9 Bhavesh Joshi Member
10 Devendra Jain Member
11 Dinesh Tejwani Member
12 Heneel Patel Member
13 Hitesh R. Shah Member
14 Jayant Gokhale Member
15 K. Gopal Member
16 Kishor Vanjara Member
17 Mahendra Sanghvi Member
18 Manoj Shah Member
19 Naresh Sheth Member
20 Nishtha Pandya Member
21 Paras K. Savla Member
MANAGING COUNCIL 2018-19

I-xx
22 Paras S. Savla Member
23 Rahul K. Hakani Member
24 Rajesh P. Shah Member
25 Sanjeev D. Lalan Member
26 Vipul Joshi Member

I-xxi
International Taxation (INT. TAX) Committee 2018-19
Chairman Rajesh P. Shah
Co-Chairman Rajesh L. Shah
Vice Chairman Kartik Badiani
Ex-Officio Hinesh R. Doshi
Vipul K. Choksi
Convenors Rakesh Upadhyaya
Shreyas Shah
Harshal Bhuta
Past President Manoj Shah
Advisor Dilip Thakkar
Office Bearer Anish Thacker
Imm. Past Chairman Paresh Shah
Mg Council Member Bhadresh Doshi
Members Ameya Kunte
Anup Shah
Bhaumik Goda
D. S. Sharma
Daksha Baxi
Devendra Mehta
G. Rajgopalan
Heena Khajanichi
Jay Kalra
Jiger Saiya
(INT. TAX) COMMITTEE 2018-19

I-xxii
Jimit Devani
Karishma Phatarphekar
Kartik Mehta
Kirit Dedhia
Mehul Turakhia
Monika Wadhani
Namrata Dedhia
Naresh Ajwani
Natwar Thakkar
Nilesh Kapadia
Ramesh Iyer
Rashmin Sanghvi
Ronak Doshi
Sanjay Sanghvi
Shabbir Motorwala
Siddharth Parekh
Sudhir Nayak
T. P. Oswal
Tarun Singhal
Ujwal Thakrar
Vispi Patel

I-xxiii
Volume I
Chapter Subject and Authors Page
No. No.
1. Overview of International Taxation
– CA Ketan Dalal and CA Tanvi Shah...................................... 1-34
2. Overview of DTAAs
– CA Dinesh Kanabar................................................................. 35-68
3. Principles of Interpretation of Tax Treaties
– CA T.P. Ostwal and CA Dimple Jain................................. 69-121
4. Principles of Interpretation of the DTAAs laid
down by Judiciary
– CA Rajan Vora and CA Nikhil Tiwari.............................. 122-175
5. Vienna convention on the law of treaties - An aid
to interpretation of tax treaties
– Advocate Bijal Ajinkya and Advocate Jugal Mundra....... 176-199
6. Important Concepts in International Taxation
– CA Yogesh A. Thar and CA Ronak G. Doshi.................. 200-228
7. OECD Model Tax Convention Commentaries –
An Overview
– CA Pritin Kumar and CA Tejas Mehta............................ 229-262
8. UN Model Convention and Commentary 2017 -
Overview and Key Changes
– Advocate Shipra Padhi and CA Ipsita Agarwalla............. 263-297
9. The U.S. Model Income Tax Convention - An
Overview
– Advocate Varsha Bhattacharya........................................... 298-314
CONTENTS

I-xxiv
10. Social Security and Impact on Global Mobility
– CA Saraswathi Kasturirangan and CA Radhika
Viswanathan............................................................................ 315-336
11. Substance over form India Judgments Law
Casemine
– Advocate Girish Dave, I.R.S. (Retd.)................................. 337-362
12. Dispute Resolution, including BIT, and its impact
on Global Economy
– Advocate Mukesh Butani and Advocate Joseph K.
Antony..................................................................................... 363-406
13. Overview of Residential Status in India
– CA N.C. Hegde.................................................................... 407-434
14. Residential Status of Company (Including Place of
Effective Management) - Structuring Overseas
Entities Implications of POEM - Practical Aspects
– CA Vishal J. Shah and CA Smit Sheth ........................... 435-492
15. Overview of BEPS
– CA Rashmin Sanghvi.......................................................... 493-505
16. Overview of MLI - Analysis and its Operation
– CA Radhakishan Rawal....................................................... 506-548
17. Treaty Abuse - PPT, Simplified LOB GAAR
(Articles 6 7 of MLI BEPS Action Plan 6)
– CA Geeta D. Jani and CA Sumana Rao........................... 549-646
18. Concept of Business Connection and related issues
(including Significant Economic Presence)
– CA H. Padamchand Khincha and CA P. Shivanand
Nayak....................................................................................... 647-664
19. Exchange of Information - Developments and
Experience
– Rahul Navin, I.R.S.............................................................. 665-719
No. No.

Contents
I-xxv
20. DTC policy considerations in light of the
Multilateral Instrument and the OECD Model Tax
Convention 2017
– Prof. Dr. Michael Lang and Christiane Zöhrer, LL.M..... 720-737
21. MLI Impact on Indian Tax Treaties and Global
Trends - Key Issues and What Next?
– Dr. Vinay Kumar Singh, I.R.S. ........................................ 738-826
22. If You Live In India! You Can Be Held As An
Offender Even If You Have Not Committed A
Crime Yourself
– Advocate Ashwani Taneja (Retd. Member ITAT)............. 827-847
23. Persons Covered [Article 1], Taxes Covered
[Article 2], General definitions [Article 3], Territorial
Extension [Article 29], Entry into Force [Article 30]
Termination [Article 31]
– CA Keyur Shah and CA Jugal Kajaria.............................. 848-878
24. Resident [Article 4]
– CA Dhishat B. Mehta......................................................... 879-897
25. Other Anti Avoidance measures - Dual resident
entities, PE in third jurisdiction, and Jurisdiction’s
right to tax its own residents
– CA Daksha Baxi.................................................................. 898-931
26. Cross Border Taxation of Fiscally Transparent
Entities
– CA Vishal Gada and CA Jay Shah.................................... 932-979
27. Triangular cases
– CA Radhakishan Rawal..................................................... 980-1002
28. Fixed place Permanent Establishment
– CA C.S. Mathur and CA Harpreet Singh..................... 1003-1049
29. Construction Permanent Establishment - Concept,
principles and issues
– CA Jimit Devani and CA Barkha Dave......................... 1050-1104
No. No.

I-xxvi
30. Service PE - A Comprehensive Analysis
– CA Bijal Desai................................................................. 1105-1133
31. Subsidiary as Permanent Establishment
– CA Natwar G. Thakrar, CA Tushar Desai and
CA Ujwal N. Thakrar......................................................... 1134-1196
32. Agency PE
– CA Hemal Zobalia and CA Mukul Sharma.................. 1197-1236
33. Article 5(4) - Specific Activity Exemptions
– CA Rutvik Sanghvi......................................................... 1237-1272
No. No.

I-xxvii
Volume II
No. No.
34. Article 6 – Income from Immovable Property
– CA Manoj Shah......................................................................... 1-18
35. Article 7: Business Profits
– CA Yogesh A. Thar and CA Ronak G. Doshi...................... 19-41
36. Concept of ‘Force of Attraction’
– CA Anil Doshi......................................................................... 42-95
37. Chapter on attribution of profits to Permanent
Establishment
– CA Anand Kankani and CA Amit Gupta........................... 96-115
38. Taxation of Income From Shipping and Air
Transport Business (Article 8)
– CA Natwar G. Thakrar and CA Sonia Agrawal.............. 116-166
39. Associated Enterprises (Article 9)
– CA Maulik Doshi................................................................ 167-233
40. Dividends [Article 10] and Interest [Article 11]
– CA Mahesh G. Nayak......................................................... 234-280
41. Taxation of Royalties FTS as Business Profits
(Interplay of Sections 44BB, 44D and 44DA)
– Dr. Mayur B. Nayak and CA Rajiv G. Shah................... 281-291
42. Taxation of Payment of Commission to Overseas
Agents
– CA M. P. Lohia (Retd. I.R.S.) and CA Nikhil
Tiwari....................................................................................... 292-329
CONTENTS

I-xxviii
43. Taxation of Fees for Technical Services - Issues and
Recent Developments
– CA Vishal Gada and CA Harshil Shah............................. 330-360
44. Taxation of ‘Fees for Technical Services’:
Application of the Concept of ‘Make Available’
– CA Tarunkumar G. Singhal and CA Fenil A. Bhatt....... 361-437
45. Taxation of software as royalty in India
– CA Ganesh Rajgopalan....................................................... 438-471
46. Taxation of Payments for Technical Plan or
Technical Design
– CA Durga Shanker Sharma and CA Fenil A.
Bhatt......................................................................................... 472-508
47. Taxation of Management Fee
– CA N.C. Hegde and CA Paras Modi................................ 509-554
48. Capital Gains under Double Taxation Avoidance
Agreement
– CA Mayur Desai and CA Diti Doshi............................... 555-596
49. Taxability of Capital Gains - BEPS/MLI - Impact
on select treaties
– CA Nilesh M Kapadia......................................................... 597-603
50. Indirect Transfer
– CA Saumya Sheth and CA Kartik Badiani....................... 604-656
51. Beneficial ownership requirements in Indian
DTAAs (Including International perspective, BEPS
and MLI Impact)
– Advocate Bharath Janarthanan .......................................... 657-688
52. Tax Implications on Independent Personal Service
– CA Shreyas Shah................................................................. 689-753
53. Income from Employment [Dependent Personal
Services] - [Article 15]
– CA Mayur Shah.................................................................. 754-773
No. No.

Contents
I-xxix
54. Tax and Regulatory aspects of Inbound
Secondment of Personnel/Employees - (Including
Social Security and Immigration)
– CA Parizad Sirwalla and CA Nishit Kapadia................... 774-845
55. Taxation of Outbound Assignees
– CA Homi Mistry and CA Deepika Mathur...................... 846-893
56. Directors’ Fees [Article 16]
– CA Ishita Sengupta and CA Hitesh Sharma..................... 894-905
57. Taxation of Entertainers Sportspersons and other
issues related to entertainment and sports events
– CA Vishal Gada and CA Zeel Gala................................... 906-946
58. Pensions and Social Security Payments [Article 18],
Government Service [Article 19] Students
[Article 20]
– CA Chetan M. Shah............................................................ 947-964
59. Other Income - Article 21
– CA Rajesh L. Shah and CA Paras Doshi.......................... 965-980
60. Elimination of Double Taxation
– CA P.V. Srinivasan........................................................... 981-1005
61. Foreign Tax Credit (Article 23) and Indian Rules including
Scope of Unilateral Foreign Tax Credit u/s 91
– CA Jayesh Kariya and CA Vyomesh Pathak................. 1006-1052
62. Chapter on UTC in DTAA
– CA Shailendra S. Sharma............................................... 1053-1105
63. Tax Sparing under Indian DTAAs
– CA Chetan Rajput and CA Pramod Achuthan............. 1106-1153
64. The Most Favoured Nation Clause - An Overview,
Issues and Developments
– CA Shabbir Motorwala and CA Monika Wadhani....... 1154-1178
No. No.

I-xxx
65. Non-discrimination - Introduction and Recent
Judicial Developments (Article 24)
– CA Riaz Thingna and CA Pallavi Talavlikar............... 1179-1185
66. Mutual Agreement Procedure
– CA T. P. Ostwal.............................................................. 1186-1214
67. Article 28 Members of Diplomatic Missions and
Consular Posts
– CA Rajiv G. Shah............................................................ 1215-1221
No. No.

I-xxxi
Volume III
No. No.
68. Avoidance of Income-tax by transactions resulting
in transfer of income to non-residents - Section 93
- CA Naresh Ajwani..................................................................... 1-50
69. GAAR overview and applicability
- CA Girish Vanvari and CA Krishnan TA............................. 51-78
70. Judicial Anti-Tax Avoidance Doctrines and their
Relevance after Introduction of GAAR
- Advocate Harsh Kothari........................................................... 79-96
71. Can GAAR apply in treaty shopping cases? Can
taxpayers invoke Canadian court’s landmark
decision to defend against the PPT clause in
post-BEPS era?
- Dr. Amar Mehta..................................................................... 97-105
72. GAAR v/s SAAR v/s Treaty
- CA Vishal J. Shah and CA Khyati Shah............................ 106-144
73. Mergers and Acquisitions - Applicability of GAAR
- CA Amrish Shah and CA Shabala Shinde......................... 145-193
74. Case Studies on GAAR
- CA Rutvik Sanghvi and CA Kartik Badiani...................... 194-220
75. General Anti-Avoidance Rules - A Comparative
Study
- CA Ganesh Rajgopalan........................................................ 221-260
CONTENTS

I-xxxii
76. Special Provisions applicable to Non-Residents
under the Income-tax Act
- CA Harsha Rawal and CA Parth Shah.............................. 261-303
77. Presumptive Tax Provisions under the Act
applicable to non-residents (Sections 44B, 172,
44BB, 44BBA 44BBB)
- CA Neetu Vinayek and CA Nidhi Agarwal...................... 304-361
78. Issues in deduction of Head Office Expenses u/s 44C
- CA Gaurang Gandhi............................................................ 362-381
79. Taxation as Agent of Non-Resident Taxpayers
u/s 163, as amended
- CA Siddharth Banwat.......................................................... 382-413
80. Taxability of reimbursement of expenses
- Advocate Sanjay Sanghvi and CA Jimmy Bhatt .............. 414-438
81. Taxation of Income from other sources -
Implications u/s 56(2)(x)/50CA
- CA Amrish Shah and CA Soniya Vyas............................. 439-475
82. TDS u/s 195 from Payments to Non-Residents
- CA Sushil Lakhani............................................................... 476-542
83. Section 94B - India thin capitalisation rules
- CA Bhaumik Goda................................................................ 543-560
84. Section 94B and Non-Discrimination
- CA H. Padamchand Khincha and
CA Shivanand P. Nayak........................................................ 561-580
85. Taxation of BPO in India
- CA K. R. Sekar and CA Hardik Lakhani........................... 581-622
86. Taxation of Broadcasting and Telecasting Industry
- CA Sunil Kapadia................................................................ 623-676
87. Telecom Sector - International Tax Issues
- CA Himanshu Parekh and CA Naveen Gupta.................. 677-734
No. No.

Contents
I-xxxiii
88. Foreign Portfolio Investors - Tax and Regulatory
Issues and Taxation and Regulatory aspects of
Participatory Notes
- CA Rajesh Gandhi .............................................................. 735-761
89. International tax issues for foreign banks in India
- CA Anish Thacker, CA Chaitrali Kamat and
CA Manthan P. Dholakia....................................................... 762-788
90. Stock Brokers International Tax Issues
- CA Abbas Jaorawala............................................................. 789-815
91. Onshore and Offshore Funds - Taxation Aspects
- CA Subramaniam Krishnan and CA Janam Jain.............. 816-837
92. Sovereign Wealth Funds - Regulatory and tax
aspects
- CA Russell Gaitonde and CA Madhav Kanhere................ 838-859
93. Private Equity Funds in India - Overview, Legal,
Tax and Regulatory Framework (Including
Planning Exit Strategies)
- CA Girish Vanvari and CA Rushikesh Raval................... 860-897
94. Taxation of Cross Border EPC Contracts
- CA Jimit Devani and CA Deepali Kene............................. 898-964
95. Cross Border - EPC Contracts
- Advocate L. Badri Narayanan........................................... 965-1003
96. Taxation of Oil and Gas Sector
- CA Gokul Chaudhri and CA Puneet Gupta.................. 1004-1058
97. Taxation Issues in the Aerospace and Defence
Sector
- CA Ajay Rastogi and CA Kumar Saorabh Sharma....... 1059-1099
98. Taxation of Cross Border Insurance
and Re-Insurance
- CA Anish Thacker and CA Deeksha Manchanda.......... 1100-1118
No. No.

I-xxxiv
99. Key tax issues in International Courier Business
- CA Sanjay Kapadia and CA Nishit Shah...................... 1119-1139
100. Taxation of Cross Border Film Production and Film
Distribution
- CA Ajay Sekhri and CA Isha Sekhri.............................. 1140-1175
101. Cross Border Taxation of Multimodal Transport
Operators
- CA Samir Kanabar and CA Punita Somani.................. 1176-1207
102. Taxation of Cross Border Leasing Transactions
- Advocate Gautam S. Thacker.......................................... 1208-1234
103. Taxation of Financial Instruments
- CA Naresh Makhijani and CA Sarika Agarwal............ 1235-1247
104. Part I - Digital Taxation OECD, UN and Author’s
proposals
- CA Rashmin Sanghvi....................................................... 1248-1264
105. Part II - Digital Taxation Finance Act, 2020
Amendments in Section 9
- CA Rashmin Sanghvi....................................................... 1265-1278
106. Outbound Structuring Post BEPS
- CA Gautam Doshi and CA Abhitan Mehta................... 1279-1291
No. No.

I-xxxv
Volume IV
No. No.
107. Cross-Border Restructuring
- Dr. Anup P. Shah...................................................................... 1-97
108. Taxation of Income from Cross-Border Investments
- CA Hiten Kotak and CA Neelu Jalan.................................. 98-133
109. Cross Border Tax Structuring
- CA C.A. Gupta and CA Lakshit Desai.............................. 134-194
110. Structuring of Investments from USA into India
(post tax reforms)
- CA Shefali Goradia and CA Nilisha Jain........................... 195-203
111. Structuring of Indian Investments into European
Union and Structuring of European Union
Investments into India
- Dr. Vikas Chaturvedi........................................................... 204-230
112. Cross-Border Estate Planning: Tax Issues
- Dr. Anup P. Shah .............................................................. 231-303
113. Cross Border ESOPs - Structuring Tax Implications -
Including Start ups
- CA Ishita Sengupta and CA Ritika Arora......................... 304-347
114. Group Taxation
- CA Paresh P. Shah............................................................... 348-375
115. Comparative Overview of OECD Transfer Pricing
Guidelines and UN Practice Manual and their
Interplay with India Landscape
- CA Vandana Shah and CA Gaurav Shah.......................... 376-437
CONTENTS

I-xxxvi
No. No.
116. Authority for Advance Rulings - Law Procedure
- Dr. Sunil Moti Lala ........................................................... 438-464
117. Valuation of Shares under FEMA
- CA Sujal Shah and CA Bhavik R. Shah............................ 465-485
118. Negotiating Tax Indemnities in Cross-Border Private
Equity MA Deals
- CA Nishchal Joshipura and Advocate Ashish Sodhani...... 486-497
119. Settlement of disputes in interpretation of tax treaties
- CA Paresh Parekh and CA Archana Choudhary............... 498-545
120. Special Purpose Vehicles (SPVs): Place of Effective
Management (POEM) in the jurisdiction of the SPV’s
incorporation or in the parent’s jurisdiction?
- Dr. Amar Mehta................................................................... 546-555
121. International Tax aspects of AOP and HUF in India
- CA Kamlesh Chainani and CA Pinkesh Jain..................... 556-591
122. Controlled Foreign Corporations Rules
- CA Jayesh Kariya and CA Mrugen Trivedi....................... 592-614
123. A summary of Landmark International Tax Cases
decided by Indian Judiciary
- CA Vispi T. Patel and CA Amol S. Mahajan................... 615-672
124. Overseas Direct Investment – A perspective
- CA Dilip J. Thakkar and CA Rajesh P. Shah.................... 673-693
125. Foreign Direct Investment - In New Regime of Non-
Debt Instruments
- CA Rajesh P. Shah............................................................... 694-753
126. Foreign Investment in Indian LLPs
- CA Umesh K. Gala and CA Venkatraman Iyer ............... 754-790
127. Establishment of branch office, liaison office and project
office in India and taxability of liaison office
- CA Hinesh R. Doshi and CA Aashish Mehta................... 791-833

Contents
I-xxxvii
No. No.
128. Special Economic Zone - Tax Planning for Cross Border
Transactions
- CA Prakash Kotadia and CA Milind Kothari.................... 834-874
129. Provisions of Foreign Contribution Regulation Act,
2010 and rules framed thereunder
- CA Vishal D. Shah and CA Rajesh P. Shah..................... 875-917
130. Offshore Financial Centres and Tax Havens: Uses in
Cross-Border Investment and Conflict with Tax
Transparency Measures
- Advocate Nishith Desai and Advocate Varsha
Bhattacharya............................................................................ 918-947
131. U.S. Tax Reform: Overview and impact on invest-
ments from and to U.S.
- CA Shishir Lagu................................................................... 948-965
132. GST on Cross-Border Transactions of Goods and
Services
- CA A.R. Krishnan.............................................................. 966-1010
133. Overview of the Black Money Act (Including
Schedule FA in ITR Forms)
- CA Anil Doshi................................................................. 1011-1056
134. Prohibition of Benami Property Transactions Act,
1988
- Advocate Harsh Kothari................................................... 1057-1086
135. Indian Migrating to USA and returning from USA -
Key tax FEMA and other issues including FATCA
and F-BAR compliance
- CA Sanket Shah and CA Gopal Bohra........................... 1087-1136
136. Investment in Start-ups - Tax and Regulatory
Aspects
- CA Suraj Malik and CA Pankil Sanghvi....................... 1137-1194
137. GST Impact on EPC Contracts
- Advocate Nishant Shah.................................................... 1195-1274
Table of Case Laws................................................................... 1275-1367

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this, errors may creep in. Any mistake, error or discrepancy noted may be brought to
our notice which shall be taken care of in the next edition. It is notified that neither
the publisher nor the chamber or seller will be responsible for any damage or loss
of action to any one, of any kind, in any manner, therefrom. It is suggested that to
avoid any doubt the reader should cross-check all the facts, law and contents of the
publication with original Government publication or notifications.
No part of this book may be reproduced or copied in any form or by any means
[graphic, electronic or mechanical, including photocopying, recording, taping, or
information retrieval systems] or reproduced on any disc, tape, perforated media
or other information storage device, etc., without the written permission of the
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All disputes are subject to Mumbai jurisdiction only.

II-iii
Vision Statement
sentations.
VISION STATEMENT

II-v


practice
CONSULTANTS

II-vi
Chamber’s
professionals.
budget
Students.

www.ctconline.org.

II-vii
Dear readers,
COMMITTEE MESSAGE
2018-19
HINESHR.DOSHI,
PRESIDENT
RAJESH P. SHAH,
CHAIRMAN, ITC

II-viii
Instruments.
edition of
topics - The 4th
was launched this year, which is spread over four volumes and has
an approximate of 135+ chapters, and is written by 250+ authors
running into 5000+ pages. The Compendium was released by
Hon’ble Justice D.S. Naidu and Dr. Y.P. Trivedi on the AGM held
on 4th
July, 2019.
to give the reader a proper and a sequential flow, appointing
of the Chamber.

II-ix
Taxation.
to play it!’
been possible.
President Chairman - ITC Message 2018-19

II-x
Till the time, 5th
Pranam!
Taxation Committee
Mumbai, 4th
July, 2019

II-xi
Dear Readers,
VIPULK.CHOKSI,
PRESIDENT
RAJESH L. SHAH,
CHAIRMAN, ITC

II-xii
compendium.

II-xiii
Thank You,
President
(2019-20)
Taxation Committee

II-xv
Compendium
OnbehalfoftheChamberInternationalTaxationCommittee,
visionary late Shri N.K. Bhat to fulfil its dream to spread knowledge
Edition contains
137 articles.
in OECD Model Tax Convention Commentary - 2017 Update
global economic crisis since 2008 and Fiscal Debt Crisis faced
PREFACE

II-xvi
implemented and various countries have amended their domestic
tax laws to implement various recommendations and suggestions
contained in the BEPS Action plans.
This edition is an attempt to cover all these developments in
their proper perspectives. The book is divided into Four Volumes.
First Two Volumes contain articles explaining the theme/basic
concepts of Double Tax Avoidance Agreements deal with
various Articles of the Model Tax Convention separately and also
specific provisions of the Domestic Law dealing with Taxation of
Non-Residents and Cross Border Transactions. The Third Volume
contains Industry Specific articles such as Taxation of Telecom
Sector, Broadcasting Telecasting industry, Electronic Commerce,
Foreign Banks, Offshore Funds, FIIs etc. The Fourth Volume contains
articles on FEMA and other related Domestic Laws such as PMLA
FCRA, Black Money Act, Benami Law and various Anti-Avoidance
Measures other specialised articles.
We have attempted to ensure that this Compendium is a
balanced collection of articles by recognised experts in the field, by
young as well as eminent professionals and also by experienced
and knowledgeable Commissioners of Income-tax Senior Ex-
Revenue Officials.
All authors have taken immense efforts and devoted
considerable time and resources to share their vast knowledge and
experience. The subject of International Taxation is still evolving and
each expert may have his own views on a given topic. These views
are not necessarily the views of the Chamber or the professional
firms to which the authors belong. Contrary and overlapping
opinions are in the nature of legal discussion debate and should
help readers in understanding the intricacies of the subject to arrive
at own independent judgment on the issue.
We are extremely thankful to all the authors which included
Senior Commissioners and Ex-Revenue Officials for their kind
contributions to the Compendium.
We sincerely thank our “Team Compendium”, without their
whole hearted support and co-operation in diverse ways, it would
have been impossible to bring out this Compendium in such a short
time. They have put in substantial time and tremendous efforts for
bringing out this mammoth publication.

II-xvii
We are very thankful to CA Hinesh D. Doshi, Immediate
Past President, CA Rajesh P. Shah, Past Chairman of International
Taxation Committee, CA Vipul K. Choksi, President of the Chamber,
Shri Anish Mohan Thacker, Vice President and Shri Rajesh L. Shah,
Chairman of International Tax Committee, in giving us a free hand
in selection of the topics and the authors for this edition of the
Compendium and also giving constant encouragement and support
in bringing out this edition of the Compendium.
We are sure that this publication will be of immense help
equally to tax professionals, tax administrators taxpayers. We
would be glad to receive your feedback.
Jimit Devani June, 2020 at Mumbai
Kartik Badiani
Tarunkumar G. Singhal
Durgashanker Sharma
Co-ordinators
Preface

II-xix
Managing Council 2018-19
1 Hinesh R. Doshi President
2 Vipul Choksi Vice President
3 Anish M. Thacker Hon. Jt. Secretary
4 Parag Ved Hon. Jt. Secretary
5 Ketan Vajani Hon. Treasurer
6 Ajay Singh Imm. Past President
7 Ashok Sharma Member
8 Bhadresh Doshi Member
9 Bhavesh Joshi Member
10 Devendra Jain Member
11 Dinesh Tejwani Member
12 Heneel Patel Member
13 Hitesh R. Shah Member
14 Jayant Gokhale Member
15 K. Gopal Member
16 Kishor Vanjara Member
17 Mahendra Sanghvi Member
18 Manoj Shah Member
19 Naresh Sheth Member
20 Nishtha Pandya Member
21 Paras K. Savla Member
MANAGING COUNCIL 2018-19

II-xx
22 Paras S. Savla Member
23 Rahul K. Hakani Member
24 Rajesh P. Shah Member
25 Sanjeev D. Lalan Member
26 Vipul Joshi Member

II-xxi
International Taxation (INT. TAX) Committee 2018-19
Chairman Rajesh P. Shah
Co-Chairman Rajesh L. Shah
Vice Chairman Kartik Badiani
Ex-Officio Hinesh R. Doshi
Vipul K. Choksi
Convenors Rakesh Upadhyaya
Shreyas Shah
Harshal Bhuta
Past President Manoj Shah
Advisor Dilip Thakkar
Office Bearer Anish Thacker
Imm. Past Chairman Paresh Shah
Mg Council Member Bhadresh Doshi
Members Ameya Kunte
Anup Shah
Bhaumik Goda
D.S. Sharma
Daksha Baxi
Devendra Mehta
G. Rajgopalan
Heena Khajanichi
Jay Kalra
Jiger Saiya
(INT. TAX) COMMITTEE 2018-19

II-xxii
Jimit Devani
Karishma Phatarphekar
Kartik Mehta
Kirit Dedhia
Mehul Turakhia
Monika Wadhani
Namrata Dedhia
Naresh Ajwani
Natwar Thakkar
Nilesh Kapadia
Ramesh Iyer
Rashmin Sanghvi
Ronak Doshi
Sanjay Sanghvi
Shabbir Motorwala
Siddharth Parekh
Sudhir Nayak
T.P. Oswal
Tarun Singhal
Ujwal Thakrar
Vispi Patel

II-xxiii
Volume II
No. No.
34. Article 6 – Income from Immovable Property
– CA Manoj Shah......................................................................... 1-18
35. Article 7: Business Profits
– CA Yogesh A. Thar and CA Ronak G. Doshi...................... 19-41
36. Concept of ‘Force of Attraction’
– CA Anil Doshi......................................................................... 42-95
37. Chapter on attribution of profits to Permanent
Establishment
– CA Anand Kankani and CA Amit Gupta........................... 96-115
38. Taxation of Income From Shipping and Air
Transport Business (Article 8)
– CA Natwar G. Thakrar and CA Sonia Agrawal.............. 116-166
39. Associated Enterprises (Article 9)
– CA Maulik Doshi................................................................ 167-233
40. Dividends [Article 10] and Interest [Article 11]
– CA Mahesh G. Nayak......................................................... 234-280
41. Taxation of Royalties FTS as Business Profits
(Interplay of Sections 44BB, 44D and 44DA)
– Dr. Mayur B. Nayak and CA Rajiv G. Shah................... 281-291
CONTENTS
Complete index to all Volumes of the Compendium is printed in Volume I.

II-xxiv
42. Taxation of Payment of Commission to Overseas
Agents
– CA M.P. Lohia (Retd. I.R.S.) and CA Nikhil
Tiwari....................................................................................... 292-329
43. Taxation of Fees for Technical Services - Issues and
Recent Developments
– CA Vishal Gada and CA Harshil Shah............................. 330-360
44. Taxation of ‘Fees for Technical Services’:
Application of the Concept of ‘Make Available’
– CA Tarunkumar G. Singhal and CA Fenil A. Bhatt....... 361-437
45. Taxation of software as royalty in India
– CA Ganesh Rajgopalan....................................................... 438-471
46. Taxation of Payments for Technical Plan or
Technical Design
– CA Durga Shanker Sharma and CA Fenil A.
Bhatt......................................................................................... 472-508
47. Taxation of Management Fee
– CA N.C. Hegde and CA Paras Modi................................ 509-554
48. Capital Gains under Double Taxation Avoidance
Agreement
– CA Mayur Desai and CA Diti Doshi............................... 555-596
49. Taxability of Capital Gains - BEPS/MLI - Impact
on select treaties
– CA Nilesh M. Kapadia........................................................ 597-603
50. Indirect Transfer
– CA Saumya Sheth and CA Kartik Badiani....................... 604-656
51. Beneficial ownership requirements in Indian
DTAAs (Including International perspective, BEPS
and MLI Impact)
– Advocate Bharath Janarthanan .......................................... 657-688
52. Tax Implications on Independent Personal Service
– CA Shreyas Shah................................................................. 689-753
No. No.

Contents
II-xxv
53. Income from Employment [Dependent Personal
Services] - [Article 15]
– CA Mayur Shah.................................................................. 754-773
54. Tax and Regulatory aspects of Inbound
Secondment of Personnel/Employees - (Including
Social Security and Immigration)
– CA Parizad Sirwalla and CA Nishit Kapadia................... 774-845
55. Taxation of Outbound Assignees
– CA Homi Mistry and CA Deepika Mathur...................... 846-893
56. Directors’ Fees [Article 16]
– CA Ishita Sengupta and CA Hitesh Sharma..................... 894-905
57. Taxation of Entertainers Sportspersons and other
issues related to entertainment and sports events
– CA Vishal Gada and CA Zeel Gala................................... 906-946
58. Pensions and Social Security Payments [Article 18],
Government Service [Article 19] Students
[Article 20]
– CA Chetan M. Shah............................................................ 947-964
59. Other Income - Article 21
– CA Rajesh L. Shah and CA Paras Doshi.......................... 965-980
60. Elimination of Double Taxation
– CA P.V. Srinivasan........................................................... 981-1005
61. Foreign Tax Credit (Article 23) and Indian Rules including
Scope of Unilateral Foreign Tax Credit u/s 91
– CA Jayesh Kariya and CA Vyomesh Pathak................. 1006-1052
62. Chapter on UTC in DTAA
– CA Shailendra S. Sharma............................................... 1053-1105
63. Tax Sparing under Indian DTAAs
– CA Chetan Rajput and CA Pramod Achuthan............. 1106-1153
64. The Most Favoured Nation Clause - An Overview,
Issues and Developments
– CA Shabbir Motorwala and CA Monika Wadhani....... 1154-1178
No. No.

II-xxvi
65. Non-discrimination - Introduction and Recent
Judicial Developments (Article 24)
– CA Riaz Thingna and CA Pallavi Talavlikar............... 1179-1185
66. Mutual Agreement Procedure
– CA T.P. Ostwal............................................................... 1186-1214
67. Article 28 Members of Diplomatic Missions and
Consular Posts
– CA Rajiv G. Shah............................................................ 1215-1221
No. No.

III-iii
Vision Statement
sentations.
VISION STATEMENT

III-v


practice
CONSULTANTS

III-vi
Chamber’s
professionals.
budget
Students.

www.ctconline.org.

III-vii
Dear readers,
COMMITTEE MESSAGE
2018-19
HINESHR.DOSHI,
PRESIDENT
RAJESH P. SHAH,
CHAIRMAN, ITC

III-viii
Instruments.
edition of
topics - The 4th
was launched this year, which is spread over four volumes and
has an approximate of 135+ chapters, and is written by 250+
authors running into 5000+ pages. The Compendium was released
by Hon’ble Justice D. S. Naidu and Dr. Y.P. Trivedi on the AGM
held on 4th
July, 2019.
to give the reader a proper and a sequential flow, appointing
of the Chamber.

III-ix
Taxation.
to play it!’
been possible.

III-x
Till the time, 5th
Pranam!
Taxation Committee
Mumbai, 4th
July, 2019

III-xi
Dear Readers,
VIPULK.CHOKSI,
PRESIDENT
RAJESH L. SHAH,
CHAIRMAN, ITC

III-xii
compendium.

III-xiii
Thank You,
President
(2019-20)
Taxation Committee

III-xv
Compendium
OnbehalfoftheChamberInternationalTaxationCommittee,
visionary late Shri N. K. Bhat to fulfil its dream to spread knowledge
Edition contains
137 articles.
in OECD Model Tax Convention Commentary - 2017 Update
global economic crisis since 2008 and Fiscal Debt Crisis faced
PREFACE

Taxmann's International Taxation – A Compendium (Set of 4 Volumes)

Taxmann's International Taxation – A Compendium (Set of 4 Volumes)

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