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of <h1>Libya-India Agreement Targets Double Taxation and Fiscal Evasion on Income Taxes, Covers Various Revenue Sources</h1> The Convention between Libya and India aims to prevent double taxation and fiscal evasion concerning income taxes. It applies to taxes imposed by both countries and their local authorities, covering various income-related taxes. For Libya, it includes taxes on real estate revenue, agricultural revenue, commercial profits, professional fees, wages, foreign income, general income, the al-jihad tax, and income from bank deposits. For India, it covers income tax and surtax under relevant Acts. The Convention extends to any similar future taxes, with both countries required to notify each other of changes in their tax laws annually.
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