India government and finland government have revised the double tax avoidance agreement between the two coutries for the person of both countries as they needn't to pay income tax as well as other taxes in both the countries.The full notification as well as the agreement is as follows.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
NOTIFICATION
New Delhi, the 20th May, 2010
(INCOME-TAX)
S. O. 1207(E).- Whereas, an Agreement and the Protocol between the Government of Republic ofIndia and the Government of the Republic of Finland for the avoidance of double taxation and the
prevention of fiscal evasion with respect to taxes on income was signed at New Delhi on the 15th
day of January, 2010;
And, whereas, the date of entry into force of the said Agreement is the 19th day of April,
2010, being thirty days after the date of later of the notifications of completion of the procedures as
required by the respective laws for entry into force of the said Agreement, in accordance with
paragraph 2 of Article 29 of the said Agreement;
And, whereas, sub-paragraph (b) of paragraph 2 of Article 29 of the said Agreement
provides that the provisions of the said Agreement shall have effect in India in respect of the taxes
withheld at source, for amounts paid or credited on or after 1st April of the calendar year next
following the year in which the Agreement enters into force; and in respect of taxes on income, for
any fiscal year beginning on or after 1 April of the calendar year next following the year in which
the Agreement enters into force;
Now, therefore, in exercise of the powers conferred by section 90 of the Income-tax Act,
1961 (43 of 1961), the Central Government hereby directs that all the provisions of the said
Agreement and the Protocol, as set out in the Annexure hereto, shall be given effect to in the Union
of India with effect from 1st day of April 2011.
WHAT IS DOUBLE TAX AGREEMENT? WANNA KNOW MORE DOUBLE TAX AGREEMENT
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