India (tax/treaty)

TERMINATION This Convention shall remain in force indefinitely until terminated by a Contracting State. Either Contracting State may terminate the Convention, through diplomatic channels, by giving notice of termination at least six months before the end of any calendar year beginning after the expiration of five years from the date of entry into force of the Convention. In such event, the Convention shall cease to have effect: a. In India, in respect of income derived in any fiscal year on or after the first day of April next following the calendar year in which the notice is given; b. In Saudi Arabia i. with regard to taxes withheld at source, in respect of amounts paid or credited after the end of the calendar year in which such notice is given; and ii. with regard to other taxes, in respect of taxable years beginning after the end of the calendar year in which such notice is given. IN WITNESS WHEREOF the undersigned, duly authorized thereto, have signed this Convention. DONE in duplicate at New Delhi, this 25th day of January, 2006, corresponding to 25 -12 - 1426 h, each in the Hindi, Arabic and English languages, all texts being equally authentic. In case of divergence of interpretation, the English text shall prevail. PROTOCOL The Republic of India and the Kingdom of Saudi Arabia on signing at New Delhi, on 25th January, 2006, the Convention for the Avoidance of Double Taxation and the Prevention of Tax Evasion with respect to taxes on Income have agreed upon the following provisions which shall form an integral part of the said Convention. 1. With regard to para 2(d) of Article 3 the term ೦person' shall include the state, its political sub೦division or local authorities and any other entity which is treated as a taxable unit under the taxation laws in force in the respective Contracting States. 2. It is understood that for the purposes of Article 2, the term "tax" means Indian or Saudi tax, as the context requires, but shall not include any penalty or fine imposed relating to those taxes. 3. For the purposes of Article 3, the term "fiscal year" means: i. in the case of India: the financial year beginning on the 1st day of April;