Under India`s Income Tax Act 1961, there are two provisions, Section 90 and Section 91, which provide taxpayers with a special facility to protect them from double taxation. . Therefore, a company established in the United Arab Emirates that sells shares of an Indian company does not pay taxes in India. Since there is no capital gains tax in the UAE, the profit escapes any tax. SUMMARY TEXT OF THE MULTILATERAL AGREEMENT ON THE IMPLEMENTATION OF FISCAL MEASURES TO PREVENT PROFIT REDUCTION AND PROFIT SHIFTING (MLI) AND THE AGREEMENT BETWEEN THE GOVERNMENT. I am a senior and the length of the form 2 or ITR 2 income tax return is worrying. Is it necessary for a Resident Indian (NRI) to complete the Schedule of FSI, Tax Relief (TR), Foreign Assets (FA)? Relief is available in the DBAA, which states that if the beneficiary meets the three aforementioned conditions, India has the exclusive right to tax such income. If the recipient does not meet these three conditions cumulatively, India and Dubai will tax it. However, at the time of submission of India`s income tax return, such a beneficiary may claim an exemption under Section 90 for taxes paid in India. . . .