Notification No. 32/2018 [504/6/2004-FTD-II(Pt.1) / SO 3468(E)

Last updated: 20 July 2018

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MINISTRY OF FINANCE

(Department of Revenue)

(INCOME TAX)

NOTIFICATION

New Delhi, the 17th July, 2018

S.O. 3468(E).— Whereas, the Agreement between the Government of the Republic of India and the Government of the State of Qatar for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income (hereinafter referred to as the “DTAA” )was signed on the 7th April, 1999;

Whereas, clause (ii) of para 3 of Article 11 of DTTA provides for the mutual agreement for granting exemption from tax on interest derived and beneficially owned by governmental financial institutions/agencies;

And whereas, in accordance with clause (ii) of para 3 of Article 11 a mutual agreement has been reached on the 29th April 2018, through exchange of letter dated the 16 th March, 2018 of Republic of India and duly accepted by State of Qatar vide their letter dated the 29th April,2018 and the said letters were exchanged between the Republic of India and the State of Qatar (as annexed herewith) for grant of exemption from tax on interest income, in accordance with clause (ii) of paragraph 3 of Article 11 of the India-Qatar DTAA;

Now, therefore, in exercise of the powers conferred by sub-section (1) of section 90 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that the provisions of said Mutual Agreement through exchange of letters, as annexed hereto, shall be given effect to in the Union of India with effect from 29th April, 2018.

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