Article 30 - Entry Into Force - Republic of Korea [South Korea]

ARTICLE 30 ENTRY INTO FORCE 1. The Contracting States shall notify each other in writing, through diplomatic channels, of the completion of the procedures required by the respective laws for the entry into force of this Agreement. 2. This Agreement shall enter into force on the date of the later of the notifications referred to in paragraph 1 of this Article. 3. The provisions of this Agreement shall have effect: a) in India, in respect of income derived 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; and b) in Korea, (i) in respect of taxes withheld at the source, on amounts paid or credited to non-residents on or after the first day of January in the first calendar year following that in which this Agreement enters into force; and (ii) in respect of other taxes, for the taxable year beginning on or after the first day of January in the first calendar year following that in which this Agreement enters into force. 4. The Convention between the Government of the Republic of India and the Government of the Republic of Korea for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income signed at New Delhi on July 19, 1985, shall cease to have effect from the dates on which this Agreement becomes effective in accordance with paragraph 3.