Entry into force of tax treaty: ratification, instrument exchange, and staggered application to withholding and other taxes.

The Convention requires ratification and exchange of instruments at Seoul and enters into force on the thirtieth day after that exchange. It applies in Korea to withholding tax on amounts paid or credited to non residents from the first day of January of the calendar year following initialling and to other taxes for taxation years beginning on that January first; in India it applies to withholding tax from the first day of April of the calendar year following initialling and to other taxes for previous years beginning on that April first.

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