9911796707
TMI BlogAgreement between the Government of India and the Government of Italy for the Avoidance of Double Taxation of Income of Enterprises Operating AircraftX X X X Extracts X X X X X X X X Extracts X X X X ..... ct, 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 GOVERNMENT OF INDIA AND THE GOVERNMENT OF ITALY FOR THE AVOIDANCE OF DOUBLE TAXATION OF INCOME OF ENTERPRISES OPERATING AIRCRAFT Whereas the Government of India and the Government of Italy desire to conclude an agreement for the avoidance of double taxation of income of enterprise operating aircraft chargeable to tax in the said countries in accordance with their respective laws; Now, therefore, the said two Governments do hereby agree as follows-. ARTICLE 1 1. The taxes to which this Agreement shall apply are: (a) in the case of India: (i) the inco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... alian tax", as the context requires; (e) the term "enterprise of a Contracting State" means: (i) an airline designated by the Government of that State in pursuance of the Agreement dated the 16th July, 1959, as may be amended or revised from time to time, between the Government of India and the Government of Italy relating to air services; or (ii) an airline which is authorised by the Government of that State by a general or special arrangement between the two Contracting States to operate chartered flights between or beyond their territories. (f) the expression "operation of aircraft" means a business of transportation by air of persons, livestock, goods or mail, carried on by the owners or leasers or chart ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent commencing on or after the 1st day of January, 1960. ARTICLE 6 This Agreement shall continue in effect indefinitely but either of the Contracting States may, within the 30th day of June of any calendar year after the year 1973, give notice of termination to the other Contracting State and in such event this Agreement shall cease to be effective: (a) in India in respect of income assessable for the year of assessment commencing on or after the 1st day of April of the calendar year following that year in which the notice is given; (b) in Italy, in respect of income assessable for the year of assessment commencing on or after the 1st day of January of the calendar year following that year in which the notice is given. IN WITNESS WHE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rminated. 2. Air India being an enterprise of India, any taxes paid by it or any deposits made by it towards its tax dues in Italy in respect of its income relating to any assessment year for which it is exempt from tax in accordance with the Agreement aforesaid shall be refunded by the Government of Italy to Air India on an application in this behalf by Air India within six months from the date on which the Agreement aforesaid enters into force, and any proceeding already initiated for the taxation of such income shall be terminated. I shall be grateful if Your Excellency will let me know if he agrees on what has been stated above; and, in such case, this note and the reply Your Excellency will kindly send me, shall be deemed to be part ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an enterprise of India, any taxes paid by it or any deposits made by it towards its tax dues in Italy in respect of its income relating to any assessment year for which it is exempt from tax in accordance with the Agreement aforesaid shall be refunded by the Government of Italy to Air India on an application in this behalf by Air India within six months from the date on which the Agreement aforesaid enters into force, and any proceeding already initiated for the taxation of such income shall be terminated. I shall be grateful if Your Excellency will let me know if he agrees on what has been stated above; and, in such case, this note and the reply Your Excellency will kindly send me, shall be deemed to be part of the agreement aforesaid.&q ..... X X X X Extracts X X X X X X X X Extracts X X X X
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