Taxes Covered clarifies applicable income taxes between Contracting States and extends treaty application to substantially similar future taxes.

Article 2 defines the taxes covered by the Agreement: for India the income-tax (including surcharge), and for Switzerland the federal, cantonal and communal taxes on income (including total income, earned income, income from capital, industrial and commercial profits, capital gains and other income). The Article extends to identical or substantially similar taxes enacted later, excludes penalties and interest from the taxes covered, defines "Indian tax" and "Swiss tax" for treaty purposes, and requires mutual notification of significant changes in taxation laws.

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