New Delhi, Feb. 23 -- During the recent visit of President Emmanuel Macron, India and Government of French Republic signed a protocol amending India-France Double Taxation Avoidance Convention (DTAC) which was signed in 1992, an official statement said on Monday.
The amending protocol provides full taxing rights in respect of capital gains arising from sale of shares of a company, to the jurisdiction where such company is a resident. Moreover, it also deletes the so-called 'Most-Favored Nation (MFN)' clause from the protocol of DTAC, bringing to meet all issues relating to it.
The amendment also modifies the taxation of income from dividends by replacing a single rate of 10pc of tax with a split rate of 5pc for those holding at least 10 p...