Agreement Between The Republic of India And The Kingdom of Saudi Arabia For Avoidance of Double Taxation By Reciprocal Exemption of Taxes on Income on The Activities of Air Transport Enterprises of The Two Countries

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.... has entered into force on the 25th September, 1992 after sixty days after the exchange of letters certifying that the proper procedure was fulfilled in each Contracting State, as required by Article 6 of the said Agreement; Now, therefore, in exercise of the powers conferred by section 90 of the Income-tax Act, 1961 (43 of 1961) and section 24A of the Companies (Profits) Surtax Act, 1964 (7 of 1964) the Central Government hereby directs that all the provisions of the said Agreement shall be given effect to in the Union of India. ANNEXURE AGREEMENT BETWEEN THE REPUBLIC OF INDIA AND THE KINGDOM OF SAUDI ARABIA FOR AVOIDANCE OF DOUBLE TAXATION BY RECIPROCAL EXEMPTION OF TAXES ON INCOME ON THE ACTIVITIES OF AIR T....

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...." means, (i) in the case of the Kingdom of Saudi Arabia ^2[,] the Ministry of Finance & National Economy; (ii) in the case of India, the Central Government in the Ministry of Finance, Department of Revenue; (g) the term "resident of a Contracting State" means any person, who under the law of that State, is liable to taxation therein by reason of his domicile, residence, place of management or any other criterion of a similar nature; ^3[(h)] the term "person includes an individual, a corporation, a company or any other body of persons; ^4[(i)] the term "other payments" means social security insurance, old age annuity or pension, sickness or medical insurance, unemployment insurance or any other pa....

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.... of any substantial changes which are made in their respective taxation laws. ARTICLE 3 TAXATION OF INCOME 1. Income and profits derived by an air transport enterprise of a Contracting State from the operation of air transport in international traffic shall be exempted from tax in the other Contracting State. 2. The provisions of paragraph 1 shall also apply to income and profits derived by an air transport enterprise of a Contracting State from its participation in a pool or a joint air transport operation. 3. For the purposes of this Article, profits derived by an air transport enterprise of a Contracting State, from the operation of air transport in international traffic also include income derived from : (a) the ....

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....s certifying that the proper procedure was fulfilled in each Contracting States. The exchange of letters shall be through diplomatic channels. 2. The provisions of this Agreement shall have effect in respect of income derived on or after the 1st day of January 1970. ARTICLE 7 TERMINATION This Agreement shall remain in force indefinitely but may be terminated by either Contracting State by giving notice of termination at least-six months before the end of any calendar year, in which case, this Agreement shall cease to have effect from the end of the calendar year in which the notice of termination is given. IN WITNESS WHEREOF THE undersigned duly authorized thereto, have signed this Agreement have affixed thereto their seal&nb....