9911796707
TMI BlogAgreement Between The Republic of India And The Kingdom of Saudi Arabia For Avoidance of Double Taxation By Reciprocal Exemption of Taxes on Income on The Activities of Air Transport Enterprises of The Two CountriesX X X X Extracts X X X X X X X X Extracts X X X X ..... er sixty days after the exchange of letters certifying that the proper procedure was fulfilled in each Contracting State, as required by Article 6 of the said Agreement; now, therefore, in exercise of the powers conferred by section 90 of the Income-tax Act, 1961 (43 of 1961) and section 24A of the Companies (Profits) Surtax Act, 1964 (7 of 1964) the Central Government hereby directs that all the provisions of the said Agreement shall be given effect to in the Union of India. ANNEXURE AGREEMENT BETWEEN THE REPUBLIC OF INDIA AND THE KINGDOM OF SAUDI ARABIA FOR AVOIDANCE OF DOUBLE TAXATION BY RECIPROCAL EXEMPTION OF TAXES ON INCOME ON THE ACTIVITIES OF AIR TRANSPORT ENTERPRISES OF THE TWO COUNTRIES The Republic of India and the Kingdom of Sau ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Revenue; (g) the term resident of a Contracting State means any person, who under the law of that State, is liable to taxation therein by reason of his domicile, residence, place of management or any other criterion of a similar nature; (i) the term person includes an individual, a corporation, a company or any other body of persons; (ii) the term other payments means social security insurance, old age annuity or pension, sickness or medical insurance, unemployment insurance or any other payments measured by income levied on the salaries and allowances of the employees by the law of the Contracting State. 2. In the application of the provisions of this Agreement by one of the Contracting States, any term used but not defined herein shall, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... agraph 1 shall also apply to income and profits derived by an air transport enterprise of a Contracting State from its participation in a pool or a joint air transport operation. 3. For the purposes of this Article, profits derived by an air transport enterprise of a Contracting State, from the operation of air transport in international traffic also include income derived from : (a) the rental or lease of aircraft or ground equipment to the enterprise of the other contracting State; (b) training schemes, management and other services rendered to the enterprise of the other Contracting State. 4. For the purposes of paragraph 1, interest or similar earnings on funds directly connected with the operation of aircraft in international traffic s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f termination at least-six months before the end of any calendar year, in which case, this Agreement shall cease to have effect from the end of the calendar year in which the notice of termination is given. IN WITNESS WHEREOF THE undersigned duly authorized thereto, have signed this Agreement have affixed thereto their seal Done at New Delhi this 14th day of November, 1991, corresponding to 8th Jumada I, 1412, in two originals, in the Hindi, Arabic and English languages, all texts being equally authentic. In case of divergence between the three texts, the English text shall prevail. FOR THE GOVERNMENT OF THE REPUBLIC OF INDIA FOR THE GOVERNMENT OF THE KINGDOM OF SAUDI ARABIA Dr. Manmohan Singh, Minister of Finance Abdul Aziz Abdullah Al-Zam ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
