Notification No. 26/2011

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TareH Ho Sto TeHo-33004/99 ie an _REGD. NO. D.L.-33004/99
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waa

Che Gazette of India
. EXTRAORDINARY
; WT [1—WVs 3—By-WUE (ii)
PART !I—Section 3—Sub-section (ii)
. Wittant & wanfeta .
PUBLISHED BY AUTHORITY |

a 3si))ti‘(‘ésS Reet, MG, WE 3, 201178 23,1933 tt—i(<itststS

No. 851] NEW DELHI, FRIDAY, MAY 13, 2011/VAISAKHA 23, 1933
(tara fast )

are .
ae feeett, 13 FE, 2011
( 31a-et ) |
LST. 1048(31).—_stafea, ad & Gay A YS H AA-WeM & fod ARG WR al GR sik saa ate AM ct Ga H Ata HI W 4 Herat, 2011 Hl aaa W wemen fu aT a; ak waft, saa aa ga eA wt ata 17 a, 2011 3, sat eS ae 13 F TH 2 S aT
a, sad Set al vga So & few aati eral sro aen-srafera vieened S GU Sh a dated afegeral Fa aE at wad ata 2; ah wafer, Sat HU HT sess 13 HT TH 2 HT sy-ths (aw) Sracen ear 2 fee sad Sa F TAY
3a atta at srrufis at arse & fee ony at ak sat a HI ares 13 H ts 2 a sa-teas (aq)
rae toe fr SH AM H SIsy se aha a aqede 1 4 ahtafed ae sy aaa wary et, veq wt fat

FA AM RK See HE al aha SB sera sah we YS SA ae Hada saferal w fee eit aera wei He

wut safy al @ aet eA Se al aha al Hera Saw ae Say HL WW GARG a BF fae aie;

Fa: HA, sea afUPTaA, 1961 (1961 I 43) at ST 90 BRI Vad Vara HI WAN Hed EU, Hala aN

Tagen Few sal sf HT H Gay A GaN S sever @ fae aa WT al AHR SN Sa Bi A aI

Ta & dha aM S Bel Saae, Sho fee saa afer sqay A Freifta fear en z, aa wa A srsafiee ez ae

@ fee dete AP] at dar stqese | H ater AM aret ara at are @ few 17 ard, 2011 Ha] att, Wy

a Hat 4 Wat, 2011 Bl Hwa Faw we se wa are Hula sata H aay q sit ser set ate

pudgy safy vet ¢, ae 4 eat, 2011 Bl Ha saw ae sq HM Bt vaR) Ss fare aia

[ afar A. 26/2011 FT. B. 503/01/2008-F4.F.9.-1]
aaa pan faa, aya aS
(1)
1711 Gi/2011—1A :

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wate ARe ToRIoY at wen ale aga site aM at ea (dfacraret wa’), a S dda J Gen S arena HH aflenfta wet are adi HH
Ta Vd YaR AMT Tred &
aM @ UM AR OS WS FT YT Sa EM SAR ada eH, FI
ae, outa oe sik ga ae a mf & att We WTS Ow TT
after 2:
aid: aa deere va Prafaitea oe at from we w fay wend BT &
frat daa Ulead vail at ote S areaary enter & ;
1711 GV2011—-1B

[a 1s 3(ii)] UR BT UNIT; SAT | 3
GRR HI Gewy Ud Gata
Ufderort vet oh wary wifart yarn H srer-wert G ATTA SB, wit fo
BU RR G sits a aet ae H da A dfaaont wail GS Ra oa F
THR Ud WaT UW &, Vea waa Guy, | eet Ya F ae wet ata ert at te ari & Raho, quia oi agel, ax al at agelt sik |
TAT Sera OX AAG Gt aia-Tsara a aftaho @ fay Yn F | EA HK
@ set G agar wen oT stem-wart fear wre | area vat S art
Hea Waa we ERI aifekral HI wa ary we affer sil<e wits we ar |
TH Waee WS wet da fe ¢ Ge S ward srart-wert Ff orqfaa wa S aren
A Set Hea we flaked + wy |
HYVS 2
aarftrar
Qa ST AEWA Fo GUTH spa fa we, se ad ST A
at 7g %, feet yo dfecrort vat or Part 3 | cent, arate var Ut Get .
Pt Brera ax & fay aaa wl F VA a Gad wfParal H ura z six
4 et oF aferal & ora seat Pda Fs, UY was wee-aaia aarfter 4 ZI
STS
. alata ay
1 Ge Weu ard fsa & suyoré:
H) wea 4, GelT UHR sR NY WT wea we cen faa aw oe Be ae oT fear fy fan fH a feu ated 8 ome as
G) ws ate aH 4, are ww aX seat after ;

4 THE GAZETTE OF INDIA : EXTRAORDINARY [Part I1—Sec. 3(ii)]
2. awe ar fie ant & offer sera Gad BIA W ST RK .
ema ef ot athe @ ae omy ay feet wre sera vaha wa a wa oat ux ft ony etm | gaa afeRes, wal & sner-wem @ wo A Wfaarent:
Val aot oReRe weafa 8 eta at ot aera sera deifta fear ot waa
& | dftarrd vat G wera wifftert wee ole dla Ya WHA SM Tet waa & dda A fers wet oRaday H ak A vs-gur ar afgfra He,
UT SW NR & arpa 4 Te vat at geal at mata ax wad & |

| TYE 4 |
| | :
1. SARS wah, wa aH fe aewen oenfka a fear ay :
®) ove “ARG S Ted ARG oT aa ake get Unies was oie
Bad GAR aT sag aa ca ale aa wagadl aa & fire &
: ARAN OT @ SAR we wy ar we ga WE >
afr ued shreatta OF @ aga ARG GT WAT WI
after, ary afta sik aarti &:
G) ve ‘aga sim an’ @ aed onga aie am dua a &
TI GA G Ue saa wWysadi aa enfia s ;
1) «oe “arf Poe PAY strat hor” S ore waew Paw s
Ue 8 8, We Bao or wi pe ae; uoWe ‘oer’ So oe ay Pata fore ser wry wm 6 fe aR Wao @ fery ves Pera Preprs ara ora 8 ;
S) ve “wart oiffeert” S ated - |
G@) FRA w Ame 4 fea AH aa Wer sea vas vite ufatafe é :

Gi) aga aie aM G aa 4 seer Pukey sear sear aR;
@) ues orp & aed Re or @ sect ge WER |
Pifese wit ammufte oral @ 8 ae a oer, soe afar
| aaa ara dfaftal ¥ entre a |
B) SURE oe at" Ue ot ae GH SE Ae SS fet ahha ar wire & fre w arena va & oY Srl sera
; are Srp G sieht egy Wea GT WHa s |
: ww) 0 oue “Ga” U oread ars aes, fear, aeaar aera Raves B F,
: are as fret ft wo A st
8) Oe "Be vest oe ae waa" S aread arp afk werahta sea wnt or wimensit Ys WH fort werent va a aR Say TAO wet oe sik Vreel aeM A wa FTI
. é ; o>) 06 Ue ‘afer’ A ore ates, a wart, afer a fara sie wey aaoun ma & fod wets wfacrert val A vga
RIM OA H Ted OWI FHT HVA AM MATS;
2 we RR a we ai" S aad ade S a ules Gari @
. Aer S agra or ofa MA are Sei S at seat aif Sz:
2 ue'adatia ate Rae AE sea de a aad Be wafee Poe fie ser ator & & aed fe Vet Pe sera arn 4 afrel, var aera ae fed} ar oa gt west a wta, Sat sera oA: wea fear or wear & | fale seat ator
4 afl, seri ern ora feat er ‘cam err’ wear A wit, |
ea Hera YA: wer fear on wean s ue wet ale fest srera .
Wa: wife weaerdt: srerat ommuera: Freer o via wy aa at wfeattra 7 et |

6 THE GAZETTE OF INDIA : EXTRAORDINARY [Parr II—Sec. 3(i)]
3) ue ‘ardafta a 8 aro we are wert! S arert Me fe wart 8 8 fad tei a we af fax aera wa
CS Rr 1 Ydise aad sad adage tar west ef UT ERT
wa seat faa fy ot wea et | Sax*waa ER’ HA ster fama wt fey wt wed & ute tea a ae wa sera fama yaad: sea ane: Past & dia wae ap at wiadila 4
a; |
2 Ue TART oe Ree UR SB aed & -
| G@) Aa A, aa & pfoyfa sik fahag ats ae arse eG URI ;
| Gi) OY area lH VRTas, HS we wert ga oAK G
warornes aaa ot aH fay werd zr ;
7 un) owe ‘arf var’ G cree va afar va Ue fret Gear
VIA IRA aT aaa far ureat & sear fort Yaa were
Oy & :
a) oue ‘ot SA ae va" SU creed, wa fact val Be
| aed va Y Gat wat oe w fg aaqte mega wen ze
HIT SR AAT WA HM zs ;
| *) wee dani teas eae, |
2. wei am fet dfteront va ao feet a waa ga owe of ay fHy ; uM a daa 8 sat oferta 4 fey ae fet ve ao, wa am fe dad 4
aaen artera 7 S, aera warn THR ga GUN GS sys -12 H ouael ; argee Hf fet at sei oe wera 4 a, ae ef eh GY we aS OT
Ted Ua WT a, Va va S wae ax are & sofa ale sel Va wa w seq Brel & ded ve wr fey ay set at gern & afar wes; e |

[at ars 3(ii)] UR Hl USGA + Sa _
WWI 5
SAVE WT YA BH BWela-WaA |
1, Re fey wr oy arqRfera vet or weary ward sede 1 FY ofeaftra
Tar & fy Yt wre Hren | Wh eT wi se-wa Sa Ta HT
fear fey fet fea ure f an ote ae aa wa at Wi gan wm aa BF wad DH GLyatorl S fa & aera gar ae araer rag wr
Usae St aT wel 8, Te alfa va S staf sow ebm, afe Ver aay arta vat & aartter A afea eae 1. |
2. ae aad va & waa wile o onto A as aT ga wa ward wel ¢ fr ge yar & fey fey ay ate a ye He A wef et al ae
Tal SR PAA ST sale SM ae va Hl wrote ax @ fay wt wife
Wa Var SH S Sua aT wat aT sa ara ar ear fee fe f arate
Ga pr Val Ba St anager amt wat H oe warorti O fae ad At as aod = |
3. ae aa SS ae a Baa wart err fase wo S ade far
UIT & a sr vet oT war MG are DS aiftener cer qet fenret at |
afta vita @ eA ort Re oral d cea aqea Mh ae, ge see @ seria Gea soe wae | -
4. wee afdarert va we gPfaa ae fe sad wes mito a, gt |
SRR & wearer aye oe ey BY wa Hey site sree EA ar wifBearne ez :
| ) «sat, aa feria Seer, feet wet sera wart aa 4 ore aN Ra alg ET ;
@) wahal o orph sik amd unites, aries, aate fee dae Gen fori agede 2 a Sinai } siete feet era paen A wt Wh aferal at cater Gan, aafee Pree Pera sera Et & act 4H, ger, are sik sma feal G ae 4
qT, a es amet 4 agen, weet wrt sk

. 8 THE GAZETTE OF INDIA : EXTRAORDINARY {Part II—Sec. 3(ii)]
ammifral & side 3 yen, ten} amd & cenvel, den aye & wera sik onal S ak F qe, size OA asi
H NF OH S amare wt a a are S sie a A tena | |

5. we aR adhe we aR oe ae aul sera adutie wifes Foe fftal sera wi G dda FY wah dal gaa wa oe
Hea sree arm & fay afterand vet at seg ae aac wa aw fe Wh
| Yet fess afergal sas fesy fear ara at on wad a |

6. ate oe ad vat } wan wert ote b wer qa at ea
—oonified or yet oe @ fay oa GS ded Ga & fay oe ae wa aye fey url aret var @ wary orfttort wt feta 4 freaferaa Gea sree are:

) ofa sera qeare fey or ae afta aft cea

@) ae safe, fire fog gen a ate fear mae;

7) 0 -SkRa A T GeaT oT aed cer ae wed fiat ata ow

| ae Val SS HT SY HY wafer SM ;

Wg) oo waters free fay wert APH ag 2:

S) 76 fiat oS & ono fh ate at ag gaat aaa va ur & sea afi va & aslo H water fart afer H
after aera Pract FB
aA BET VA aera sas Peay a SA a aqaM ;

3) yar Rawr ae ad gy fe aE ode, aducat vr & ort aR mraPte vel & ape = ste ae fe afe opelta war outer ver & aaiter 8 ef a aqdesch we mr wen wiftent seen cat G orp G ced sea ww

[aT are 3(ii)] we aU: eT
a a TATE wAraT gE ASAT eT aS A wea ee Ze
WI RR G ayws & ak uF) “ae fae 23 ge PY onteepat vey gaat a wat aa > fre |
, ay we G yoretsy A wos ait wes aoa & fay wad.
| wt seafia afeagat wt gery |
7. RR vet wr war afters eenfetts opt gaat By oeRermat vat ot emit wer | ety ware gAfer oe d fey ofa ver wr wer mont Petar ae: . .
®) oeaat va } wer wert a fier A ote wis oF
gfe He cen saya at mt B 6o fest PH fae amps 9
ora @ ar 4, afe ag a, satel va S was wed ah
— afrgfert ae |
@) af snpafta ce a7 wee ment arte A mid 90 Ral a
HR YT ol wT SRM VE was oe} § onsef erat} fered yar a ga oe A de ong aenmy wita & sera ae YT
Wa GU SHR Or S a se Tere ah armel, gest avo va et yaa eee |
WTS 6
. faes 4 ax arg .
1. siyRererat ve G warm went & sate oe onda ver, aelearat va @ war wet @ wea at at smeeiia are & dea aqAET
wrt dem, aferal ser ora dere aferal wt yd fatter weafd 8 alee
Wao eg ok Ror Gt ota oe & fey anata vat d woaads A wae ot ot aqaht < wea & | aeeawdt va or wer ment, Wie aleuat owe oid ton S wa ve we S at 8 sala va d was wort |
or afryfra aeT |
1714 GV2011—2A .

10 - THE GAZETTE OF INDIA : EXTRAORDINARY . [Part Il—Sec. 3(ii)]

2. Saeed va S wer tort G ave we ayes ve, seni

val @ Marr ifort & wfafaferal ar aaa va A oy ure p suged aM FA

Wy WA wt arqafa < went @, fora are 4 aruda vat H Ua He WS Ta

aifese sffent den oie ort ana ae & fey apes vet are aralert erat

yd wipastt @ ax 4 squeal va G wars wiffert wr eitefeeita affrefaa

Sen |S ute om & dds 4+ ait foe ura dare we ae vet an fey

ore | |

| AY | ;
| | Wat eg sea ot sedior wet at dara
1. eRe vat oT wars oifeant fra ao ade A were we & fay wT
BR UH z :
| . %) wet sara sa ow & agen val fea aa a; sera
@) «Wet sleet val A GET ot wat oe ow fag as Wome F

sree wt Meat aT aryary we fee a, ara sas wet
Merl wl ssa os 8 arate ofa sos ert; sea

| 1) Wet SAT GT HEA aaa ver at cites Hea (Gitse vies) aH
wipe ert | :

_ 2. Fear yo ddan va wh sea a afta se ae: | |
o) Ot get ot ot fet armRe, arta, sietftre, aftiforn :
aad fe ayeee 5 @ romp. 4 4 afta Yat or fH ga OR
UVa We sea aor via a wT A wet wasn IGM fe ge .
. we tor 4 aftia ares al ye Heit s stera |
. 1711 Gl/2011—2B

[WT Have 3(ii)] ; ORT St UIA: AAR | ; i |
wa) OUT OWT RAT STAT WEI RAT GT Ya Drew alk sivaam, ywieaan sera srr eipa ore wiefa @ ta mata Tada al ware Gen, vel Vt areata wT
i) Ort Were APM sera Buca] GRA | yao. Wa
| far war et; sieraT
ii) stger sera afta @reh wrafeat & watt a water wege fear rear at | |
smite war Hl wr G versa V wt me Yaa art |
fara & aie vel ert é |
3. Ga eg ale al sa ona WAT Ae fea wT fH a aa frre ORT ae fea wa é, feared ze |
: 4. ata vet S SA YI S sina we sera wat GS ah eta awa art RR aunal vet wrahia watt & fry sera sts GX OY OT ATT
om o fay at oral & aed et ove at oRRefaat A ora aoe aw fey onqadl ent | |
5. slid va qe eg saa at uw fea A gow wr wea ze ae
Wat & fay oeNly orades vet ER AeA va | aX GA GS WG wade w aera see Os fat ater ot wafed ser any we & fey fee ore z,.
UT oRifea va @ wie G wit west oR A orden vat GS yaH ule ol Fern A VAT PRAT S|
a sq 8 .
WIAA
BU RN & sata vo Uden va eer wma a wg fot ya eC
Ta wast oie ak sd Rw wafta atari va @ aarfter 4 afer aaa smerestRat (ra =area wd wera free sift 8) wl wre fora
WET, Ut se aR 4 wha at H tds A sas ake seat srat age .

}2 THE GAZETTE OF INDIA : EXTRAORDINARY [Part I]—Sec. 3(ii)}
gern wad ide A yada ger after seat sae Walla anftat & Asker a vata F 1a afer aera wife, wt get a wat daa WS wari
@ fey at ot 19 wh gan of adate cura wah orfarfeat area water 4 wee oe wend Fl Gan HT aia ca GH was wfsardt at feet ora ctarfteere or (forest feast aor enfra @ woe vet feet oTeT |
WPS 9
arte
1. a aa fir uel oS were softer reer wera ae, weather 83 A sor wars ara ot arqeferat ver are aes fear orem ak ge srqeda GH Budell
@ sea, wear oF A sons sree arial wi, afe a soo fafes wevsy
S afte Bt oredt & aque vet ext dea fear wre |
2. fart fire ard a, wet ornener amit at soo ARE WevsE e aie ret at waraa et, wast widen, ved a, we PaiRa we G fey.
. frarcferst aet fe aaRicaat va ala ae ont wan ak ara et aeq
ORT | :
3. wa wert ge onpeda S wider Y area oe ere HE
4. ara ard 8 afafte werefte end, ge ci vex amd ai |
afaRer aa wfia & al alent vet err weya Yaa og aaa ot wien om dk ora Sa a w fay apa vat arr vata at 7g ef | Wea
We RT FUT AAT ar @ Varewl F Pfs ma s wy Fe
Prafaftsd am vifta ae & :
| m) |. oats vet at oie S aeardalt &H vfaferieeor og chee vell arr wARa stra yo;
@) «arena, aqarant ser ara wer fates ot war @ fey
BIZ AMT ;
7) 9 ahead vat al aad A @ fory waged ard ;

[3 11—@rs 3(ii)] | TRA Hl WITT : SATE 13
Geetarel set Sogea arr ; ait
. &) TO Hera WT a GR BS ry waged ars |
| : - SATWE 10
Wtcert va oI at wd or aque ae sik ot yaa oe S
fey fort sneeze fear at afaPratra ae | |
7 HYBS 11
wera & fay age sik wad wet wt eds an 3 dae fet oTeT | |
ATE 12
ureter cere fate
1. Wet RR Ot oid eA sea vat aren aoe F ddy whaaeont val & sh afengal sera wes sem oe aet warm wet
| URRG wens Sarre wt get HET wT FER BB | gad alse, wfterert ual @ wars wire ge GAN S swe 4, 5, 6,7, sshod awn a wr aeft wien oe oReaRe wr a wena et |
2. Uftaent vet S waa met ew ogee o sinia are oS
worse va-gey S Ue A seta BH | .

| APOS 13
WAT BT
1. - Gerard vat ga GRR a wae SS S fore ote orl S aed stars vias a Te ae & fey fara 3 vH-gay wt afraid Ge |
2. Fe mR se spe G toms 1 4 uieahad afk 4G ae at afer at ake Gt ary ern sie Fr wy warae@Rt eM -
(@) Ba TNE Gt sowie aX Ae G daa 4 ; aie
| (@) wate aq A ata wt ami o dda A og
: Sit ST GIT W EWAN GS athe a! seg Gas Te AA
OX WAR & fey | |
| WIVES 14
PAT
1. - TS AR TS TH wT mw fH AA AS OE WH afeaent va
BO WAS Fel GK CAT F | |
| 2 a AS AS A Soot we gas ay A HH ate a dh oT
waa & ae waged meal S uRe Ga afta va eT wad at YH
faftaa qa Tot GR PU GS WANT GUHA z | ,
3. | SW ARE ST WAT, SeX Uiacrerd vat ar wa @ fea a wiht wt
| anka } gre we He ot aaa at wale & aqadt are a vers fear wt ware arm | wares at sardt aha wen oe fee ve wel ote we aie GH UTM
& sa @ae @ wang OA wet, Kfar ve Haig w std Wie GI TE
fart Wt qa G dae F arqede gS Urael G ced aes eT |

[9PT IL ~@rs 3(ii)] OR SI UA : AAR; ; : 15

free wen 4, gad fay faftaa wo 8 mittee acteeneRal a sa

RIN UY Seay fey s |
det 4 ay ot BN RE G OR aE oS ds fa va a PRS

sot ans 4 Perr far aa 8 aah we war ws S years = | op

Prem 4 Pera ot Rafe 4 sitet we ward arr oer |
Wer at se . War al sara

B0/ , Zo/ .
(afert Et) (Ci oa, varad)
: gages fitsa F | WAG Fat .

16 THE GAZETTE OF INDIA : EXTRAORDINARY [Part II—Sec. 3(ii)]
. MINISTRY OF FINANCE |
| oo . (Department of Revenue)
NOTIFICATION
New Delhi, the 13th May, 2011
(INCOME-TAX)

S.O. 1048(E).— Whereas, an Agreement between the Government of Republic of India and the
Government of the Isle of Man for the Exchange of Information with respect to taxes was signed at London on the 4” day of February, 2011;

And whereas, the date of entry into force of the said Agreement is the 17" day of March,
2011, being the date of later of the notifications of completion of the procedures as required by the respective laws for entry into force of the said Agreement, in accordance with paragraph 2 of article 13 of the said Agreement;

And whereas, sub-paragraph (a) of paragraph 2 of article 13 of the said Agreement provides that the provisions of the said Agreement shall have effect for criminal tax matters on that date and sub-paragraph (b) of paragraph 2 of article 13 of the said Agreement provides that the provisions of the said Agreement shall have effect for all other matters covered in article 1, on that date, but only in respect of taxable periods beginning on or after the date of signature of this Agreement or, where there is no taxable period, all charges to tax arising on or after the date of signature; . |

Now, therefore, in exercise of the powers conferred by section 90 of the Income-tax Act,
1961 (43 of 1961), the Central Government hereby directs that all the provisions of the |
Agreement between the Government cf Republic of India and Government of the Isle of Man for the Exchange of Information with respect to taxes, as set out in the Annexure hercto, shall be given effect to in the Union of India for crim:r! tex matters inunediately and for all other matters covered in article 1, on 17" day of March, 2011, but only in respect of taxable periods beginning on or after the 4" day of February, 2011 or where there is no taxable period, for all charges to tax arisiug on or after the 4" day of February, 2011.
| [Notification No. 26/2011/F. No. 503/01/2008-FTD-I]

SANJAY KUMAR MISHRA, Jt. Secy.

[arr ers 3G) SRT ST TST: AAT 0
be SS TE ag
BETWEEN .

THE GOVERNMENT OF THE REPUBLIC OF INDIA
AND :
THE GOVERNMENT OF THE ISLE OF MAN
FOR
THE EXCHANGE OF INFORMATION .
WITH RESPECT TO TAXES
. | Whereas the Government of the Republic of India and the Government of the Isle of Man
7 | (“the Contracting Parties”) wish to enhance and facilitate the terms and conditions
. | governing the exchange of information with respect to taxes;
Whereas it is acknowledged that the Isle of Man under the terms of its Entrustment from
| the United Kingdom has the right to negotiate, conclude, perform and, subject to the terms of this Agreement, terminate a Tax Information Exchange Agreement with India;
Now, therefore, the Contracting Parties have agreed to conclude the following
\Agreement, which contains obligations on the part of the Contracting Parties only:
— Article 1 7
Object and Scope of the Agreement
| The competent, authorities of the Contracting Parties shall provide assistance through
| exchange of information that is foreseeably relevant to the administration and enforcement
‘of the domestic laws of the Contracting Parties concerning taxes covered by this
' Agreement. Such information shall include information that is foreseeably relevant to the
| determination, assessment and collection of such taxes, the recovery and enforcement of
: tax claims, or the investigation or prosecution of tax matters. Information shall be
- ' exchanged in accordance with the provisions of this Agreement. The rights and safeguards
_ secured to persons by the laws or administrative practice of the Requested Party remain
' applicable to the extent that they do not unduly prevent or delay effective exchange of
- , information.
a | Article 2 | |
Jurisdiction
. | Information shall be exchanged in accordance with this Agreement without regard to
_ Whether the person to whom the information relates is, or whether the information is held
4 by, a resident of a Contracting Party. However, a Requested Party is not obliged to provide
Q information which is neither held by its authorities nor is in the possession or control of
_ | persons who are within its territorial jurisdiction.
IW CZ Hh] -3 | | -

' 18 . THE GAZETTE OF INDIA : EXTRAORDINARY [Parr I—Sec. 3(ii)]
| Article 3 -
Taxes Covered
. 1. The taxes which are the subject of this Agreement are:
a) in India, taxes of every kind and description imposed. by the Central Government,
_ irrespective of the manner in which they are levied;
--) in the Isle of Man, taxes on income or profit.
2. This Agreement shall also apply to any identical or substantially similar taxes imposed
| after the date of signature of this Agreement in addition to, or in place of, the existing
| taxes. Furthermore, the taxes covered may be expanded or modified by mutual agreement
' of the Contracting Parties in the form of an exchange of letters. The competent authorities of the Contracting Parties shall notify each other of any substantial changes to the taxation and related information gathering measures which may affect the obligations of that Party
| pursuant to this Agreement. .
| |
| Article 4
Definitions
1. For the purposes of this Agreement, unless otherwise defined: a a) the term “India” means the territory of India and includes the territorial sea and
| airspace.above it, as well as any other maritime zone in which India has sovereign
4 rights, other rights and jurisdiction, according to the Indian law and in accordance with international law, including the United Nations Convention on the Law of the
Sea; .
b) the term “Isle of Man” means the island of the Isle of Man, including its territorial sea, in accordance with international law; c) the term “collective investment fund or scheme” means any pooled investment vehicle, irrespective of legal form; d) the term “company” means any body corporate or any entity that is treated as a body corporate for tax purposes; oe
) the term “competent authority” means i) in the case of India, the Finance Minister, Government of India, or its authorised representative; ti) in the case of the Isle of Man, the Assessor of Income Tax or his or her delegate; f) the term “criminal laws” means all criminal laws designated as such under domestic law irrespective of whether contained in the tax laws, the criminal code or other
Statutes;

LY Was 3(ii)) | FT Sy UTA; Soa 19
~_ g) the term “criminal tax matters” means tax matters involving intentional conduct.
which is liable to prosecution under tax laws or the criminal laws of the Requesting
Party; . .

h) the term “information” means any fact, statement, document or record in whatever form; .

i) the term “information gathering measures” means laws and administrative or judicial procedures that enable a Contracting Party to obtain and provide the requested

information;

j) the term “person” includes an individual, a company, a body of persons and any other entity which is treated as a taxable unit under the taxation laws in force in the .
respective Contracting Parties;

k) the term “principal class of shares” means the class or classes of shares representing

a majority of the voting power and value of the company; ;

1) the term “public collective investment fund or scheme” means any collective investment fund or scheme provided the units, shares or other interests in the fund or scheme can be readily purchased, sold or redeemed by the public. Units, shares or other interests in the fund or scheme can be readily purchased, sold or redeemed “by the public” if the purchase, sale or redemption is not implicitly or explicitly restricted

to a limited group of investors;

m) the term “publicly traded company” means any company whose principal class of shares is listed on a recognised stock exchange provided its listed shares can be readily purchased or sold by the public. Shares can be purchased or sold “by the public” if the purchase or sale of shares is not implicitly or explicitly restricted to a

. limited group of investors; n) the term “recognised stock exchange” means .
i) in India, the National Stock Exchange, the Bombay Stock Exchange, and any other stock exchange recognised by the Securities and Exchange Board of India; ii) any other stock exchange which the competent authorities agree to recognise for the purposes of this Agreement;
Q) the term “Requested Party” means the Contracting Party which is requested to prcvide in.ormation or which has provided information;
Pp) the term “Requesting Party” means the Contracting Party submitting a request for - .
information to, or having received information from, the Requested Party; q) the term “tax” means any tax to which this Agreement applies.
2. As regards the application of this Agreement at any time by a Contracting Party, any term not defined therein shall, unless the context otherwise requires or the competent authorities agree to a common meaning pursuant to the provisions of Article 12 of this
1711 GU2011—4A

v1) THE GAZETTE OF INDIA : EXTRAORDINARY [Part Il—Sec. 3(ii)]
Agreement, have the meaning that it has at that time under the law of that Party, any meaning under the applicable tax laws of that Party prevailing over a meaning given to the term under other laws of that Party.

Article 5
Exchange of Information Upon Request
1, The competent authority of the Requested Party shall provide upon request information for the purposes referred to in Article 1. Such information shall be exchanged without regard to whether the Requested Party needs such information for its own tax purposes or whether the conduct being investigated would constitute a crime under the laws of the
_ Requested Party if such conduct occurred in the jurisdiction of the Requested Party. _

" 2. If the information in the possession of the competent authority of the Requested Party is not sufficient to enable it to comply with the request for information, that Party shall use all relevant information gathering measures to provide the Requesting Party with the information requested, notwithstanding that the Requested Party may not need such

. information for its own tax purposes.
3. If specifically requested by the competent authority of the Requesting Party, the competent authority of the Requested Party shall provide information under this Article, to

. the extent allowable under its domestic laws, in the form of depositions of witnesses and authenticated copies of original records.

4. Each Contracting Party shall ensure that its competent authority, for the purposes of this

. Agreement, has the authority to obtain and provide upon request:

a) information held by banks, other financial institutions, and any person, including nominees and trustees, acting in an agency or fiduciary capacity; b) information regarding the legal and beneficial ownership of companies, partnerships, collective investment funds or schemes, trusts, foundations, ““Anstalten” and other persons, including, within the constraints of Article 2, ownership inZormation on all such persons in an ownership chain; in the case of collective investment funds or schemes, information on shares, units and other interests; in the case of trusts, information on settlors, proteciors, trustees and beneficiaries; in the case of foundations, information on founders, members of the foundation council and beneficiaries; and equivalent information in case of entities that are neither trusts nor foundations.
5. This Agreement does not create an obligation on the Contracting Parties to obtain or provide ownership information with respect to publicly traded companies or public collective investment funds or schemes unless such information can be obtained without giving rise to disproportionate difficulties.
6. The competent authority of the Requesting Party shall provide the following information to the competent authority of the Requested Party when making a request for information under the Agreement to demonstrate the foreseeable relevance of the information to the request:
1711 GU2011—4t

[a1 1I—@re 3(ii)] ARG Hl USA: AST 21

a) the identity of the person under examination or investigation; .

b) the period for which information is requested; .

c) the nature of the information requested and the form in which the Requesting Party would prefer to receive it;

d) the tax purpose for which the information is sought;

e) grounds for believing that the information requested is present in the Requested Party

or is in the possession or control of a person within the jurisdiction of the Requested
Party;

f) to the extent known, the name and address of any person believed to be in possession .
or control of the requested information;

g) a statement that the request is in conformity with the laws and administrative practices of the Requesting Party, that if the requested information was within the

; jurisdiction of the Requesting Party chen the competent authority of the Requesting
Party would be able to obtain the information under the laws of the Requesting Party or in the normal course of administrative practice and that it is in conformity with this Agreement;

h) a statement that the Requesting Party has pursued all means available in its own territory. to obtain the information, except those that would give rise to disproportionate difficulties.

7. The competent authority of the Requested Party shall forward the requested information

as promptly as possible to the Requesting Party. To ensure a prompt response, the

competent authority of the Requested Party shall:

' a) confirm receipt of a request in writing to the competent authority of the Requesting
Party and shall notify the competent authority of the Requesting Party of deficiencies in the request, if any, within 60 days of the receipt of the request; -

b) if the competent authority of the Requested Party has been unable to obtain and provide the information within 90 days of receipt of the request, including if it -
encounters obstacles in furnishing the information or it refuses to furnish the information, it shall immediately inform the Requesting Party, explaining the reason for its inabiiity, the nature of the obstacles or the reasons for its refusal.

Article 6
Tax Examinations Abroad ;

1. At the request of the competent authority of the Requesting Party, the Requested Party

may allow representatives of the competent authority of the Requesting Party to enter the

territory of the Requested Party, to the extent permitted under its domestic laws, to interview individuals and examine records with the prior written consent of the individuals

2 THE GAZETTE OF INDIA : EXTRAORDINARY [Part Il—Sec. 3(ii)]
ot other persons concerned. The competent authority of the Requesting Party shall notify the competent authority of the Requested Party of the time and place of the intended meeting with the individuals concerned.
2. At the request of the competent authority of the Requesting Party, the Requested Party may allow representatives of the competent authority of the Requesting Party to be present .
at the appropriate part of a tax examination in the Requested Party, in which case the competent authority of the Requested Party conducting the examination shall, as soon as possible, notify the competent authority of the Requesting Party about the time and place of the examination, the authority or official designated to carry out the examination and the procedures and conditions required by the Requested Party for the conduct of the examination. All decisions with respect to the conduct of the tax examination shall be made by the Party conducting the examination.
Article 7 _
‘ Possibility of Declining a Request for Information
1. The competent authority of the Requested Party may decline to assist:
a) where the request is not made in conformity with this Agreement; or
_ b) where the Requesting Party has not pursued all means available in its own territory to obtain the information, except where recourse to such means would give rise to
: disproportionate difficulty; or c) where disclosure of the information would be contrary to public policy (ordre public) of the Requested Party. :
2. This Agreement shall not impose on a Contracting Party the obligation:
a) to supply information which would disclose any trade, business, industrial,
- commercial or professional secret or trade process, provided that information described in paragraph 4 of Article 5 shall not be treated as such a secret or trade process merely because it meets the criteria in that paragraph; or
. b) to obtain or provide information, which would reveal confidential communications between a client and an attorney, solicitor or other admitted legal representative where such communications are:
1) produced for the purposes of seeking or providing legal advice; or ii) produced for the purposes of use in existing or contemplated legal proceedings.
Items held with the intention of furthering a criminal purpose are not subject to legal privilege.
- 3. A request for information shall not be refused on the ground that the tax claim giving rise to the request is disputed.

a
[AMT 11—wrE 3(ii)] ART HT UAT : SATU . 2B
4. The Requested Party shall not be required to obtain and provide information which the
Requesting Party would be unable to obtain in similar circumstances under its own laws for the purpose of the administration or enforcement of its own tax laws.
5. The Requested Party may decline a request for information if the information is requested by the Requesting Party to administer or enforce a provision of the tax law of the
Requesting Party, or any requirement connected therewith, which discriminates against a national of the Requested Party as compared with a national of the Requesting Party in the same circumstances. _
Article 8
Confidentiality
Any information received by a Contracting Party under this Agreement shall be treated as confidential and may be disclosed only to persons or authorities (including courts and administrative bodies) in the jurisdiction of the Contracting Party concerned with the assessment or collection of, the enforcement or prosecution in respect of, or the determination of appeals in relation to, the taxes covered by this Agreement. Such persons or authorities shall use such information only for such purposes. They may disclose the information in public court proceedings or in judicial decisions. The information may not be disclosed to any other person or entity or authority or any other jurisdiction (including a foreign Government) without the express written consent of the competent authority of the
Requested Party. .
Article 9 , :
Costs

1. Unless the competent authorities of the Contracting Parties otherwise agree, ordinary costs incurred in providing assistance shall be borne by the Requested Party, and, subject to the provisions of this Article, extraordinary costs incurred in providing assistance shall, if they exceed 500 British Pounds, be borne by the Requesting Party.
2. The competent authorities shall consult each other, in advance, in any particular case where extraordinary costs are likely to exceed 500 British Pounds to determine whether the
Requesting Party will continue to pursue the request and bear the cost.
3. The competent authorities shall consult from time to time with regard to this Article.
4. Ordinary costs include internal administration costs, any minor external costs and.
overhead expenses incurred by the Requested Party in reviewing and responding to information requests submitted by the Requesting Party. Examples of extraordinary costs incurred in providing assistance include, but are not limited to the following:

a) reasonable fees charged by third parties for copying documents on behalf of the

Requested Party; b) reasonable costs of engaging interpreters, translators or other agreed experts; c) reasonable costs of conveying documents to the Requesting Party;

ee ———————————————
24 THE GAZETTE OF INDIA : EXTRAORDINARY (Part l}—Sec. 3(ii)]
ooo Sse d) reasonable litigation costs of the Requested Party in relation to a specific request for information; and.
e) reasonable costs for obtaining depositions or testimony.
Article 10
Implementation Legislation
The Contracting Parties shall enact any legislation necessary to comply with, and give effect to, the terms of the Agreement.
Article 11
Language
Requests for assistance and answers thereto shall be drawn up in English.
Article 12
Mutual Agreement Procedure
1. Where difficulties or doubts arise between the Contracting Parties regarding the implementation or interpretation of the Agreement, the competent authorities shall endeavour to resolve the matter by mutual agreement. In addition, the competent authorities of the Contracting Parties may mutually agree on the procedures to be used under Articles 4, 5, 6, 7, 8 and 9 of this Agreement.
2. The competent authorities of the Contracting Parties may communicate with each other directly for purposes of reaching agreement under this Article.
Article 13
Entry into Force
1, The Contracting Parties shall notify each other in writing of the completion of the procedures required by the respective laws for the entry into force of this Agreement.
2. This Agreement shall enter into force on the date of the later of the notifications referred to in paragraph 1 of this Article and shall thereupon i:ave effect:
a) for criminal tax matters, on that date; and b) for all other matters covered in Article 1, on that date, but only in respect of taxable periods beginning on or after the date of signature of this Agreement or, where there is no taxable period, all charges to tax arising on or after the date of signature.

(aM 11s 3(i/)] NT BT WATT ; SATU 25
a Article 14
Termination
.1. This Agreement shall remain in force until terminated by either Contracting Party.
2. Either Contracting Party may, after the expiry of three years from the date of its entry into force, terminate the Agreement by serving a written notice of termination to the other
Contracting Party through appropriate channels.
3. Such termination shall become effective on the first day of the month following the expiration of a period of six months after the date of receipt of notice of termination by the other Contracting Party. All requests received up to the effective date of termination shall be dealt with in accordance with the provisions of the Agreement.
4. Notwithstanding any termination of this Agreement, the Contracting Parties shal] remain bound by the provisions of Article 8 with respect to any information obtained under the
Agreement.
In witness whereof, the undersigned, being duly authorised thereto, have signed this
Agreement. ’
DONE in duplicate at London on this Fourth day of February 2011, in the Hindi and
English languages, both texts being equally authentic. In case of divergence of interpretation, the English text shal] prevail.
For the Government of the oS For the Government of the
Republic of India: Isle of Man:
Sd/ Sd/ |
(Nalin Surie) _ | (Anne Craine, MHK) _
High Commissioner of India Minister of the Treasury to the United Kingdom
Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-1 10064 oo and Published by the Controller of Publications, Dethi-110054. .