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of <h1>India-Mongolia Pact Prevents Double Taxation, Promotes Fair Tax Treatment, and Cooperation on Income and Capital Taxes.</h1> The agreement between India and Mongolia, effective from March 29, 1996, aims to prevent double taxation and fiscal evasion concerning income and capital taxes. It applies to residents of both countries and covers various taxes, including individual and corporate income taxes in Mongolia and income and wealth taxes in India. The agreement defines terms like 'permanent establishment' and outlines tax rules for different income types, such as business profits, dividends, interest, royalties, and capital gains. It includes provisions for mutual agreement procedures, exchange of information, and non-discrimination, ensuring fair tax treatment and cooperation between the two nations.
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