LIMITATION OF BENEFIT – THE ROUTE TO CURTAIL TAX AVOIDANCE OR A DISGUISE: AN INDIAN PERSPECTIVE
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Abstract
A Double Taxation Avoidance Convention (DTAC) between two States is one of the instruments to enhance bilateral trade and commerce. DTAC is having two aims, the first is to eliminate double taxation and the second to check tax avoidance. This article focuses on one of the methods for eliminating tax avoidance, popularly know as Limitation of Benefit (LOB). The LOB method discussed in this article may help the readers to understand the menace of tax avoidance, technicalities of the method, and how the LOB clause in DTAC can help the exchequer to restrict the practices leading to revenue loss with the help of tax avoidance practices.
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