Entry into force of tax treaty sets when provisions apply to India and Korea and ends the prior double taxation convention.

The Contracting States must notify each other in writing through diplomatic channels when domestic procedures for entry into force are complete; the Agreement enters into force on the later notification. The Agreement fixes application: in India, for fiscal years beginning on or after the first fiscal year following entry into force; in Korea, withholding taxes apply to amounts paid or credited to non residents from the first calendar year after entry into force and other taxes from taxable years beginning in that calendar year. The earlier 1985 Convention ceases to have effect when this Agreement becomes effective.

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