Article 30 - Entry into force - Nepal

ARTICLE 30 ENTRY INTO FORCE 1. The Contracting States shall notify each other in writing, through diplomatic channels, of the completion of the procedures required by the respective laws for the entry into force of this Agreement; 2. This Agreement shall enter into force on the date of the notifications referred to in paragraph 1 of this Article. 3. The provisions of this Agreement shall have effect: ( a ) In India, in respect of income derived in any fiscal year beginning on or after the first day of April next following the calendar year in which the Agreement enters into force; and ( b ) In Nepal in respect of income derived in any fiscal year beginning on or after the mid-July (corresponding to 1st day of Shrawan month of the Nepalese B.S.) next following the calendar year in which the Agreement enters into force. 4. The Agreement between the Government of the Republic of India and His Majesty's Government of Nepal for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to Taxes on Income signed at Kathmandu on the 8th day of January, 1987 shall cease to have effect when the provisions of this Agreement become effective in accordance with the provisions of paragraph 3, provided that any action or proceeding already initiated prior to the coming into force of this Agreement shall be dealt with in accordance with the Agreement for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to taxes on income signed at Kathmandu on January 8, 1987.