DTAA/ Information Exchange Agreement between India and Maldives
The CBDT/ GOI has notified the DTAA (to avoid double taxation of income from operation of aircrafts for International Air Transport, participation in a pool, etc.) and Information Exchange Agreement between India and Maldives. The provisions of this Agreement shall have effect in India in respect of income derived in any fiscal year beginning on or after the first day of April following the calendar year in which the Agreement enters into force.
Article 3 – Avoidance of Double Taxation
1. Income derived by an enterprise of a Contracting State from the operation of aircraft in international traffic shall be exempted from tax in the other Contracting State.
2. The provisions of paragraph (1) shall also apply to income from the participation in a pool, a joint airline business or an international operating agency.
3. For the purpose of paragraphs 1 and 2, interest on funds directly connected with the operation of aircraft in international air traffic shall be regarded as income derived from the operation of such aircraft.
To view/ download pdf copy of the DTAA/ Information Exchange Agreement with Maldives, please refer the link below: