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1. Notification of Double Taxation Avoidance
Agreement (DTAA) between India and Qatar.
A DTAA between India and Qatar which was signed on 7.4.1999 at New
Delhi has been notified in the Gazette of India on 8.2.2000. The Agreement has entered
into force on 15.1.2000 and will be applicable in India in respect of Financial Year
2001-2002 ( A Y 2002-2003) onwards. The agreement seeks to provide a fresh impetus to the
mutual flow of investment, technology, trade and services between the two countries. The
Agreement provides for lower rates of taxation in respect of interest, royalties and fees
for technical services vis-a-vis the domestic rates in India. 2. Signing of
amending Protocol with Switzerland
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A protocol amending the existing double taxation convention with
Switzerland was signed between India and Switzerland at New Delhi on 16.2.2000. The
Protocol for lowering of withholding tax rates on interest, royalties and fees for
technical services, vis-a-vis the domestic rates India. It also
provides for taxation of capital gains from alienation of shares
in the country where the company, whose shares are alienated, is
resident. The Protocol shall enter into force 30 days after the
date of receipt of the letter of the notifications by the two
Governments regarding completion of procedures required by their
respective laws for bringing protocol into force.
3. Notification No 11176 dated 20.12.1999 ( F No 225/49/99/ITA-II)
Notification has been issued declaring Ahmedabad, Baroda, Surat, Rajkot, Bhavnagar,
Jamnagar, Delhi and New Delhi Municipal Corporations as "Urban Areas" under
section 54(G) of Income tax Act, 1961 |
