Notification No. 47/2011

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Che Gazette of India
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EXTRAORDINARY
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PART Il—Section 3—Sub-section (ii)
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PUBLISHED BY AUTHORITY :
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3337 GI/2011 (1)

2. THE GAZETTE OF INDIA: EXTRAORDINARY [Part II—Sec. 3(ii)] :
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Fate Tar Wa HE B a Hea ze fe Cet Gan 8 sas prevention of fiscal evasion with respect to taxes on income :
ale atafte fea wel 2 | (hereinafter referred to as “Protocol”) signed in India on
5, fet ot feefa a doors 3 S saaei ar ated Saat the 24th day of June, 2011 shall enter into force on the ist day of September, 2011, being the first day of the month wafee Fa St ayft eet SA al & fer fret after the date of the later of the notifications after afacrat wa al aqafa 34 & fee aet eee orem fer completion of the procedures as required by the laws of qe feat da, aa farts deem, frat wit a feet tthe respective countries for the entry into force of the sare enrar A ariza arfadt a cater S ora 2 a ae feet ant - Peete. - with the provisions specified in yaaa dafia 2)” rticle 5 of the Protocol.
; ary Rae é Now, therefore, in exercise of the powers conferred ; opse-2 by Section 90 of the Income-Tax Act, 1961 (43 of 1961),
29 FA, 2005 st ANA A wenafta HI H wiatalet F the Central Government hereby notifies that all the
HTS 2 Hl Fern eT | provisions of the Protocol annexed hereto shall be given aye 3 effect to in the Union of India for taxable periods falling a after Ist January, 2008, that is, Financial Year2008-09 and
Sat Fa wets afaererd wer Fa arateeter a bi subsequent financial years in accordance with the
Se H fou Fah HA Br srefeia visas H YT VI provisions specified in Article 3 of the Protocol.
Uh-get Hl afrghad we | ae widtela ot afegqenst at Wad aha @ ae & He & were fea Bl ay ENT | [Notification No. 47/2011/F. No. 500/139/2002-FTD-II ] :
3a Watala & sade sq Uda sata a data wa a K, RAMALINGAM, St. Secy.

[rT 11—ave 3( ii) } ARE AT UAIA : STATI ee.
pA LS a cere er NF FE hs hd Oc Tae
ANNEXURE (c) to supply information which would disclose any
Second Protocol Amending the Agreement trade, business, industrial, commercial or professional between the Government of the Republic of India and the secret or trade process, or information the disclosure of a
Government of the Republic of Singapore for the which would be contrary to public policy (order public).
Avoidance of Double Taxation and the Prevention of 4. If inforrmation is requested by a Contracting ; hoscal Evasion with respect to taxes on Income State in accordance with this Article, the other Contracting
The Government of the Republic of India and the State shall ».c its information gathering measures to obtain
Government of the Republic of Singapore, the requested information, even though that other State a. may not need such information for its own tax purposes.
Desiring to conclude a Second Protocol to amend The obligation contained in the preceding sentence is the Agreement between the Government of the Republic subject to the limitations of paragraph 3 but in no case of India and the Government of the Republic of Singapore shall such limitations be construed to permit a Contracting for the Avoidance of Double Taxation and the Prevention State to decline to supply information solely because it of Fiscal Evasion with respect to Taxes on Income, signed has no domestic interest in such information.
- India on 24th January, 1994, as amended by the Protocol 5. Inno case shall the provisions of paragraph 3 be signed at India on 29th June, 2005 (hereinafter referred to construed to permit a Contracting State to decline to supply as “the Agreement”), information solely because the information is held by a
: Have agreed as follows : bank, other financial institution, nominee or person acting
Article 1 in an agency or a fiduciary capacity or because it relates
, to ownership interests in a person.”
Article 28 of the Agreement shall be deleted and Article 2 :
replaced by : Article 2 of the Protocol to the Agreement, signed at
“Article 28 India on 29th June, 2005, shall be deleted.
Exchange of Information Article 3
a ‘ Each of the Contracting States shall notify to the
|. The competent authorities of the Contracting other the completion of the procedures required by its law
States shall exchange such information as is foreseeably for the bringing into force of this Protocol. This Protocol relevant for carrying out the provisions of this Agr cement shall enter into force on the first day of the month after the or to the administration or enforcement of the domestic date of the letter of these notifications. The provisions of laws concerning taxes of every kind and description this Protocol shall apply to taxes relating to taxable periods 1S
imposed on behalf of the Contracting States, or of their beginning on or after Ist January of the three calendar political sub-divisions or local authorities, insofar as the years immediately preceding the calendar year of the entry taxation thereunder is not contrary to the Agreement. The into force of this Protocol.
exchange of information is not restricted by Articles | Article 4
and 2. This Protocol, which shall form an integral part of “
2. Any information received under paragraph | by a the Agreement, shall remain in force as long as the
Contracting State shall be treated as secret in the same Agreement remains in force and shall apply as long as the manner as information obtained under the domestic laws Agreement itself is applicable.
of that State and shall be disclosed only to persons or, In witness whereof, the undersigned, duly “
authorities (including courts and administrative bodies) authorised thereto by their respective Governments, have concerned with the assessment or collection of, the signed this Protocol.
enforcement or prosecution in respect of, the determination Done in duplicate at New Delhi on this 24th day of of appeals in relation to the taxes referred to in paragraph June, 2011, in the Hindi and English languages, both texts -
|, or the oversight of the above. Such persons or being equally authentic. In the case of divergence between authorities shall use the information only for such the two texts, the English text shall be the operative one.
purposes. They may disclose the information in public court proceedings or in judicial decisions.
3. In no case shall the provisions of paragraphs | For the Government of For the Government of ;
> and 2 be construed so as to impose on a Contracting State the Republic of India the Republic of Singapore the obligation : :
(a) to carry out administrative measures at variance Sd/- Sd/-
with the laws and administrative practice of that or of the (PRAKASH CHANDRA) (KAREN ANNETAN
other Contracting State; Chairman PING MING)
(b) to supply information which is not obtainable Central Board of Direct Taxes High Commissioner of under the laws or in the normal course of the administration Singapore to India of that or of the other Contracting State; :
es Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-1 10064
and Published by the Controller of Publications, Delhi-1 10054.