Double taxation relief: Convention allocates taxing rights, limits source taxation and provides credits plus dispute resolution mechanisms. Convention allocates taxing rights between India and Italy, applies to residents and specified taxes, and defines key terms including tax residence and enterprise. It establishes the permanent establishment criterion with inclusions, exclusions and profit attribution on an arm's length basis; allocates taxation for immovable property, business profits, air and shipping, dividends, interest, royalties, capital gains and personal services; and prescribes elimination of double taxation by credit or deduction, a mutual agreement procedure for disputes, and an exchange of information mechanism, with a protocol clarifying reservations and entry into force provisions.