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of <h1>India-Israel Agreement to Avoid Double Taxation and Prevent Fiscal Evasion Effective Since May 1996</h1> The Convention between the Republic of India and the State of Israel aims to avoid double taxation and prevent fiscal evasion concerning taxes on income and capital. It became effective on May 15, 1996, following mutual notification by both governments. The Convention applies to residents of either or both contracting states. The Indian government, under the powers granted by the Income-tax Act, 1961, and the Wealth-Tax Act, 1957, has mandated the implementation of this Convention within India.
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