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<h1>Key Terms Defined in UK-India Double Tax Avoidance Agreement: Article 3 Explains Tax, Fiscal Year, and More</h1> Article 3 of the Double Tax Avoidance Agreement (DTAA) between the United Kingdom and India provides definitions for terms used in the Convention. 'United Kingdom' refers to Great Britain and Northern Ireland, while 'India' denotes the Republic of India. 'Tax' includes UK or Indian tax but excludes penalties or amounts due to defaults. The 'fiscal year' is defined differently for each country. 'Person' includes individuals, companies, and taxable entities. 'Company' refers to corporate bodies or entities treated as such for tax purposes. 'Competent authority' refers to designated tax authorities in each country. 'International traffic' involves transport by enterprises of a Contracting State, excluding domestic operations in the other state.