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Article 1 - Personal scope - Korea (Old - Effective upto 31-3-2017)Extract DOUBLE TAXATION AVOIDANCE AGREEMENT WITH REPUBLIC OF KOREA NOTIFICATION NO. GSR 1111 (E), DATED 26-9-1986 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 WHEREAS the annexed 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 has been ratified and the instruments of ratification exchanged, as required by paragraph 1 of Article 29 of the said Convention, on 1st August, 1986; 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 Convention shall be given effect to in the Union of India. ANNEXURE 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 The Government of the Republic of India and the Government of the Republic of Korea. Desiring to conclude a Convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. Have agreed as follows: Article 1 : Personal scope This Convention shall apply to persons who are residents of one or both of the Contracting States.
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