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of <h1>India and Serbia Implement Convention to Avoid Double Taxation on Income and Capital</h1> The Convention between the Government of India and the Council of Ministers of Serbia and Montenegro aims to avoid double taxation on income and capital. Following Montenegro's independence in June 2006, the Convention now applies solely to Serbia. Ratified by Serbia's National Assembly and published in their Official Gazette, the Convention entered into force on September 23, 2008. It applies to fiscal years starting on or after April 1 following the entry into force. The Indian government has directed the implementation of this Convention under the Income-tax Act and Wealth-tax Act to facilitate economic cooperation between the two nations.
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