Amendment in DTAA with French Republic - 61/2009 - Income Tax

Amendment in DTAA with French Republic MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi , the 12th, August 2009 S.O. 2106 (E). - Whereas the Convention between the Government of the Republic of India and the Government of the French Republic for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital had come into force on the 1st day of August, 1994, on the notification by both the Contracting States to each other of the completion of the procedures required under their law for bringing into force of the said Convention in accordance with paragraph 1 of Article 30 of the said Convention; And whereas, the said Convention was notified by the Central Government under section 90 of the Income-tax Act, 1961 (43 of 1961) in the Gazette of India Extraordinary, Part II, Section 3, Subsection (i) vide number G.S.R. 681(E), dated the 7th September, 1994 and amended by notification number S.O.650(E), dated the 10th July, 2000. And whereas sub-clause (iii) of clause (a) of paragraph 3 of Article 12 of the said Convention provides for exemption of interest from tax in the Contracting State in which it arises provided it is derived and beneficially owned by any other institution as may be agreed from time to time between the competent authorities of the Contracting States; And whereas both the Government of Republic of India and Government of the French Republic have now agreed to include Agence Francaise de Developpement in the list of institutions specified in clause (a) of paragraph 3 of Article 12 of the said Convention; 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 the following amendment shall be made in the said notification, namely:- In the said notification, in the Annexure, in Article 12 of the Convention, in paragraph 3, in clause (a), for sub-clause (ii), the following sub-clause shall be substituted, namely:- '(ii) the "Reserve Bank of India" in the case of India and the "Banque de France" and "Agence Francaise de Developpement" in the case of France; or' 2. This notification shall come into force from the date of its publication in the official gazette. [Notification No. 61/2009/F.No.500/386/2008-FTD-I Kamlesh C. Varshney (Director) Note : The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (i) vide number G.S.R. 681(E), dated the 7th September, 1994 and subsequently amended by number S.O. 650(E), dated the 10th July, 2000.