Amendment and Implementation of Agreements between India and the Russian Federation under Section 90 of the Income-tax Act, 1961 - 9155 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 30th December, 1992 (INCOME-TAX) G.S.R. 952(E) Whereas the Agreements mentioned in the Schedule hereto were entered into between the Government of the Republic of India and the Government of the Union of the Soviet Socialist Republics; And whereas the Russian Federation has expressed its desire to exercise rights and fulfil the obligations arising from the aforesaid Agreements concluded by the erstwhile Union of the Soviet Socialist Republics and to remain a party of the aforesaid Agreements; And whereas the Government of the Republic of India has accepted and confirmed that the aforesaid Agreements shall remain in full force and effect between India and the Russian Federation; And whereas the Government of the Republic of India and the Russian Federation have agreed that the references in the aforesaid Agreements to USSR , Union of Soviet Socialist Republics , or Soviet or Soviet Union wherever is occur, shall be construed as reference to Russian Federation ; 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 aforesaid Agreements- between the Government of the Republic of India and the Russian federation shall be given effect to in the Union of India. SCHEDULE (i) Agreement between the Government of India and the Union of Soviet Socialist Republics on Marchant Shipping signed at New Delhi on 19th July, 1976 and notified vide Government of India, Ministry of Finance (Department of Revenue) Notification No. 1588 (F. No.501/1/73-FTD, G.S.R. No. 943(E) dated 23-12-1976 ) and modified by Notification [F. No. 480/1/81-FTD ( G.S.R. No. 419(E) dated 31-05-1984 ] ; and (ii) Agreement between the Government of the Republic of India and the Government of the Union of Soviet Socialist Republic for the avoidance of double taxation of income signed at New Delhi on 20th November, 1988 and notified vide Government of India, Ministry of Finance (Department of Revenue) (Foreign Tax Division) Notification No. 8442 [F. No. 503/1/88-FTD (G.S.R. No. 812(E) dated 4-9-1989) ]. [No. 9155/F. No. 503/1/92-FTD] T. S. KRISHNA MURTHY, Jt. Secy.