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of <h1>Agreement Covers Income Taxes in Contracting States, Including Indian and Cyprus Taxes, and Future Similar Taxes</h1> This agreement applies to income taxes imposed by a contracting state or its political subdivisions, regardless of how they are levied. It covers taxes on total income and elements of income, including gains from property sales and wages. Specifically, it applies to Indian income tax and Cyprus taxes such as income tax, corporate income tax, special defense contributions, 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 to their tax laws.
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