Protocol amending the agreement between the Government of the Republic of India and the Government of Japan on the prevention of double taxation and the prevention of income tax evasion, signed in New Delhi on 7 March 1989, as amended by the Protocol on the Prevention of Double Taxation and the Prevention of Income Tax Fraud , as amended by the Protocol of 24 March 1989 on the prevention of double taxation and tax evasion. Protocol signed in Tokyo on 12 February 2006 (`convention`), G.S.R. 682-Considering that the attached Convention on the Prevention of Double Taxation of Income between the Government of India and the Government of Japan ratifies and ratifies the ratification instruments in accordance with Article XVI of the above agreement: the amended bilateral tax agreement between India and Japan , which provides for increased information sharing to reduce tax evasion, came into force on 29 October. The agreement amending the 27-year double taxation prevention agreement (DBAA) was signed during Japanese Prime Minister Shinzo Abe`s visit to India in December 2015. For this reason, in exercising the powers conferred by Section 90 of the Income-tax Act 1961 (43 of 1961), the central government: that all the provisions of this protocol amending the amending agreement the agreement between the Government of the Republic of India and the Government of Japan to avoid double taxation and prevent income tax evasion in the Indian Union from 29 October 2016. S.O. 3346 (E) – The protocol amending the convention between the Government of the Republic of India and the Government of Japan to avoid double taxation and prevent tax evasion with respect to income tax [the so-called “protocol], comes into force on 29 October 2016, in accordance with Article 4, paragraph 1, of the protocol; 1. States parties assist each other in the collection of revenue fees. This support is not limited by Articles 1 and 2. The competent authorities of the contracting states may, by mutual agreement, regulate the manner in which this article is applied. (v) another financial institution whose capital is 100% owned by the Government of Japan, as can be agreed from time to time between the governments of the contracting states; (c) any other taxable tax agreed between the governments of the contracting states. 4 is not a priority in that contracting state, under the law of the other contracting state, which applies to this right to revenue. 4.

This protocol remains in force as long as the Convention remains in force. ITAT found that under the prevailing legal situation, once an income is considered taxable in a tax jurisdiction under a tax treaty, and unless it is expressly mentioned that it can be taxed in the other tax sovereignty, the other fiscal sovereignty of its income taxing power is excluded.