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Agreement for Avoidance of Double Taxation of Income Derived From International Air Transport - Republic of Maldives

Income Tax - 77/2016 - Dated:- 2-9-2016 - MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION No. 77/2016 New Delhi, the 2nd September, 2016 (INCOME TAX) S.O. 2853(E).-Whereas, an Agreement entered into between the Government of the Republic of India and the Government of the Republic of Maldives for Avoidance of Double Taxation of Income Derived From International Air Transport was signed at New Delhi on the 11th day of April, 2016 as set out in the Annexure to this notification (hereinaft .....

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provisions of the said Agreement shall have effect in India in respect of income derived in any fiscal year beginning on or after the first day of April following the calendar year in which the Agreement enters into force; Now, therefore, in exercise of the powers conferred by sub-section (1) of section 90 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that all the provisions of said Agreement, as annexed hereto, shall be given effect to in the Union of India. .....

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ome imposed on behalf of each Contracting State irrespective of the manner in which they are levied. 2. The existing taxes to which this Agreement shall apply are: a) in the case of India, the income-tax including any surcharge thereon (hereinafter referred to as Indian tax ); b) in the case of Maldives, Business Profit Tax imposed under the Business Profit Tax Act (Law Number 5/2011) (hereinafter referred to as Maldives tax ); 3. This Agreement shall also apply to any identical or substantially .....

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zone in which India has sovereign rights, other rights and jurisdiction, according to the Indian law and in accordance with international law, including the U.N. Convention on the Law of the Sea; b) the term "Maldives" means the territory of the Maldives and includes its territorial sea, continental shelf, sea-bed, sub-soil (and their natural resources) and airspace, as well as any maritime zone in which the Maldives has sovereign rights, other rights and jurisdiction, according to the .....

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of the Agreement dated 24thDecember 2008, as maybe amended or revised from time to time, between the Government of Republic of India and the Government of Republic of Maldives relating to air services; f) the term international air traffic means any transport by an aircraft operated by an enterprise of a Contracting State, except when the aircraft is operated solely between places in the other Contracting State ; g) the term operation of aircraft means the business of transportation by air of p .....

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ing States, any term used but not defined herein shall, unless the context otherwise requires, have the meaning which it has under the laws in force in that State relating to taxes which are the subject of this Agreement. Article 3 AVOIDANCE OF DOUBLE TAXATION 1. Income derived by an enterprise of a Contracting State from the operation of aircraft in international traffic shall be exempted from tax in the other Contracting State. 2. The provisions of paragraph (1) shall also apply to income from .....

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rovision to the contrary is made in this Agreement. Article 5 MUTUAL AGREEMENT PROCEDURE 1. The competent authorities of the Contracting States shall endeavour to resolve by mutual agreement any difficulties or doubts arising as to the interpretation or application of the Agreement. 2. Consultation may be requested at any time by the competent authority of a Contracting State for the purpose of paragraph 1 of this Article. Such consultation shall begin within ninety days from the date of receipt .....

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