Agreement for Avoidance of double taxation and prevention of fiscal evasion with foreign countries – Republic of Croatia – Notification 24/2015

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Whereas, an Agreement and Protocol (hereinafter referred to as the said Agreement and the Protocol) as set out in the Annexure to this notification, was entered into between the Government of the Republic of India and the Government of the Republic of Croatia for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income that was signed on the 12th February, 2014;

2.  And whereas, the date of entry into force of the said Agreement and Protocol is the 6th February, 2015, being the date thirty days after the date of the latter of the notifications of completion of the procedures as required by the respective laws for entry into force of the said Agreement and Protocol, in accordance with paragraph 1 of article 29 of the said Agreement;

3. And whereas, clause (b) of paragraph 3 of article 29 of the said Agreement provides that the provisions of the said Agreement shall have effect in India in respect of income arising in any fiscal year beginning on or after the first day of April next following the calendar year in which the Agreement enters into force.

4. 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  said Agreement and Protocol between the Government of the Republic of India and the Government of the Republic of Croatia for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income, as set out in the Annexure hereto, shall be given effect to in the Union of India with effect from the first  day of April, 2016, being the first day of the fiscal year next following the calendar year in which the said Agreement entered into force.

[F. No. 501/09/1995-FTD-I]

(Akhilesh Ranjan)

Joint Secretary

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