Interest exemption under DTAA expanded to include Agence Francaise de Developpement, updating the treaty's institutional list. The Convention's Article 12(3)(a) is amended to substitute the sub-clause listing institutions entitled to exemption from tax on interest: specifying the Reserve Bank of India for India and the Banque de France and Agence Francaise de Developpement for France. The Central Government effects this change under section 90 of the Income-tax Act, 1961, and the amendment is effective from publication in the official Gazette.
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Provisions expressly mentioned in the judgment/order text.
Interest exemption under DTAA expanded to include Agence Francaise de Developpement, updating the treaty's institutional list.
The Convention's Article 12(3)(a) is amended to substitute the sub-clause listing institutions entitled to exemption from tax on interest: specifying the Reserve Bank of India for India and the Banque de France and Agence Francaise de Developpement for France. The Central Government effects this change under section 90 of the Income-tax Act, 1961, and the amendment is effective from publication in the official Gazette.
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