TMI BlogGENERAL DEFINITIONSX X X X Extracts X X X X X X X X Extracts X X X X ..... ia has sovereign rights, other rights and jurisdiction, according to the Indian law and in accordance with international law, including the United Nations Convention on the Law of the Sea of December 10, 1982; b) the term Korea means the Republic of Korea, and when used in a geographical sense, the territory of the Republic of Korea including its territorial sea, and any area adjace ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t is treated as a body corporate for tax purposes; f) the term enterprise applies to the carrying on of any business g) the terms enterprise of a Contracting State and enterprise of the other Contracting State mean respectively an enterprise carried on by a resident of a Contracting State and an enterprise carried on by a resident of the other Contracting State; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate; k) the term tax means Indian or Korean tax, as the context requires, but shall not include any amount which is payable in respect of any default or omission in relation to the taxes to which this Agreement applies or which represents a penalty or fine imposed relating to those taxes; l) the term fiscal year means: (i) in the case of India: the financ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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