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TMI BlogAgreement between the Government of the Republic of India and the Government of the Republic of Singapore for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to TaxesX X X X Extracts X X X X X X X X Extracts X X X X ..... he Third Protocol); And whereas, the Third Protocol entered into force on the 27th day of February, 2017, being the date of the later of the notifications of the completion of the procedures as required by the respective laws for the entry into force of the Third Protocol, in accordance with Article 6 of the Third Protocol; Now, therefore, in exercise of the powers conferred by sub-section (1) of section 90 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that all the provisions of the Third Protocol, as annexed hereto, shall be given effect to in the Union of India. [500/139/2002-FTD-II] RAJAT BANSAL, Jt. Secy. Annexure "THIRD PROTOCOL AMENDING THE AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate shall make an appropriate adjustment to the amount of the tax charged therein on those profits. In determining such adjustment, due regard shall be had to the other provisions of this Agreement and the competent authorities of the Contracting States shall if necessary consult each other." Article 2 Article 13 - Capital Gains of the Agreement shall be amended, with effect from 1 April 2017: (i) by deleting paragraph 4; and (ii) by inserting the following paragraphs: "4A. Gains from the alienation of shares acquired before 1 April 2017 in a company which is a resident of a Contracting State shall be taxable only in the Contracting State in which the alienator is a resident. 4B. Gains from the alienation of shares acquired on or afte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cting State. 3. A resident of a Contracting State is deemed to be a shell or conduit company if its annual expenditure on operations in that Contracting State is less than S$ 200,000 in Singapore or Indian ₹ 5,000,000 in India, as the case may be: (a) in the case of paragraph 4A of Article 13 of this Agreement, for each of the 12-month periods in the immediately preceding period of 24 months from the date on which the gains arise; (b) in the case of paragraph 4C of Article 13 of this Agreement, for the immediately preceding period of 12 months from the date on which the gains arise. 4. A resident of a Contracting State is deemed not to be a shell or conduit company if: (a) it is listed on a recognised stock exchange of the Contra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rocedures required by its law for the bringing into force of this Protocol and notify the other State about such completion of the procedures. This Protocol shall enter into force on the date of the later of these notifications. If this Protocol does not enter into force as at 31 March 2017 due to either of the aforesaid notifications remaining pending, this Protocol shall enter into force on 1 April 2017. Article 7 This Protocol, which shall form an integral part of the Agreement, shall remain in force as long as the Agreement remains in force and shall apply as long as the Agreement itself is applicable. IN WITNESS WHEREOF, the undersigned, duly authorised thereto by their respective Governments, have signed this Protocol. DONE in dup ..... X X X X Extracts X X X X X X X X Extracts X X X X
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