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of <h1>India-Iceland Pact to Avoid Double Taxation and Prevent Fiscal Evasion under the Income-tax Act, 1961</h1> The agreement between the Government of India and the Government of Iceland aims to avoid double taxation and prevent fiscal evasion concerning income taxes. It applies to individuals residing in either or both countries. Signed on November 23, 2007, the agreement came into effect on December 21, 2007, following the completion of necessary legal procedures. The provisions of this agreement were implemented in India starting April 1, 2008, under the authority of the Income-tax Act, 1961. This agreement seeks to enhance economic cooperation between India and Iceland.
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