Entry into force timing determines when DTAA withholding and income tax provisions apply across the two jurisdictions.

The Agreement enters into force upon the later of mutual written diplomatic notifications confirming domestic completion; it then applies in India to withholding taxes on amounts paid or credited on or after the first April of the calendar year following entry into force and to other income taxes for fiscal years beginning on or after that April, while in Iceland it applies to withholding taxes on income derived on or after the first January of the calendar year following the year of the later notification and to other income taxes for tax years beginning on or after that January.

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