TMI BlogAgreement between Government of India and Imperial Government of Iran through exchange of notes for 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 ..... income of enterprises operating aircraft Notification No. 284 Dated 28/5/1973 Whereas the Government of India and the Imperial Government of Iran have concluded an agreement through exchange of notes as set out in the Annexure hereto, for the avoidance of double taxation of income of enterprises operating aircraft; Now, therefore, in exercise of the powers conferred by section 90 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Direct Tax Law of 19th March, 1967, foreign air companies may be exempted from payment of income-tax on a reciprocal basis; and in fact considering that no income-tax has been collected from Iranian air companies in India, the Iranian Government has to this date refrained from collecting income-tax from Indian air companies. Thus, as the provisions of reciprocity prescribed in the Direct Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs and in regard to the question of reciprocal exemption of Indian and Iranian airlines from payment of income-tax, has the honour to refer to their Note No. 127/18, dated March 29, 1973, which reads as follows:- " The Imperial Ministry of Foreign Affairs presents its compliments to the Embassy of India and with reference to the discussions and corresponding notes exchanged regarding the recipro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reed to, this Note and the Embassy's reply regarding the application and observance of reciprocity by the Government of India may be considered as a temporary agreement between the two parties in respect of exemption from payment of income-tax by the air companies of both parties. " With reference to this proposal, the Embassy of India has the honour to inform the Imperial Ministry of Foreign Af ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... basis of reciprocity and shall apply from the beginning of operation of these airlines in Iran and India respectively and that in case any tax on the aforesaid income has been recovered by either Government as of the date of this agreement, the same shall be refunded by that Government. The Embassy of India avails itself of this opportunity to renew to the Imperial Ministry of Foreign Affairs th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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