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of <h1>Agreement Governs Income Tax, Capital Gains, and Corporate Tax Between India and Cyprus; Covers Future Similar Taxes.</h1> This Agreement applies to taxes on income imposed by a Contracting State or its subdivisions, regardless of how they are levied. It covers taxes on total income, including gains from property alienation and wages or salaries paid by enterprises. Specifically, it applies to the income tax and any surcharges in India, and in Cyprus, it covers income tax, corporate income tax, the special contribution for defense, and capital gains tax. The Agreement also extends to any similar taxes introduced after its signing. Contracting States must inform each other of significant changes in their taxation laws.
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