(17)

RNI No. KARBIL/2001/47147

¨sÁUÀ - 4

PÉÃAzÀæzÀ «zsÉÃAiÀÄPÀUÀ¼ÀÄ ªÀÄvÀÄÛ CªÀÅUÀ¼À ªÉÄÃ¯É ¥Àj²Ã®£Á ¸À«ÄwAiÀÄ ªÀgÀ¢UÀ¼ÀÄ, PÉÃAzÀæzÀ

C¢ü¤AiÀÄªÀÄUÀ¼ÀÄ ªÀÄvÀÄÛ CzsÁåzÉÃ±ÀUÀ¼ÀÄ, PÉÃAzÀæ ¸ÀPÁðgÀzÀªÀgÀÄ ºÉÆgÀr¹zÀ ¸ÁªÀiÁ£Àå

±Á¸À£À§zÀÞ ¤AiÀÄªÀÄUÀ¼ÀÄ ªÀÄvÀÄÛ ±Á¸À£À§zÀÞ DzÉÃ±ÀUÀ¼ÀÄ ªÀÄvÀÄÛ gÁµÀÖç¥ÀwAiÀÄªÀjAzÀ

gÀavÀªÁV gÁdå ¸ÀPÁðgÀzÀªÀjAzÀ ¥ÀÄ£ÀB ¥ÀæPÀlªÁzÀ

DzÉÃ±ÀUÀ¼ÀÄ

¸ÀA¸À¢ÃAiÀÄ ªÀåªÀºÁgÀUÀ¼ÀÄ ªÀÄvÀÄÛ ±Á¸À£À gÀZÀ£É ¸ÀaªÁ®AiÀÄ

C¢ü¸ÀÆZÀ£É

¸ÀASÉå: ¸ÀAªÀå±ÁE 37 PÉÃ¤¥Àæ 2012, ¨ÉAUÀ¼ÀÆgÀÄ, ¢£ÁAPÀ: 08£ÉÃ DUÀ¸ïÖ, 2012.

2012£ÉÃ ¸Á°£À 02-04-2012 ¢£ÁAPÀzÀ ¨sÁgÀvÀ ¸ÀPÁðgÀzÀ UÉeÉmï£À «±ÉÃµÀ ¸ÀAaPÉAiÀÄ ¨sÁUÀ-II ¸ÉPÀë£ï 3(ii) gÀ°è ¥ÀæPÀlªÁzÀ F

PÉ¼ÀPÀAqÀ G.S.R. 281(E) ¢£ÁAPÀ:02-04-2012 C£ÀÄß ¸ÁªÀðd¤PÀgÀ ªÀiÁ»wUÁV PÀ£ÁðlPÀ gÁdå¥ÀvÀæzÀ°è ªÀÄgÀÄ ¥ÀæPÀn¸À¯ÁVzÉ.

MINISTRY OF FINANCE

(Department of Financial Services)

NOTIFlCATION

New Delhi, the 2nd April, 2012

G.S.R.281(E).-· In exercise of the powers conferred by Sections 19 and 20 read with clauses' (a), (b) and (c) of sub-

section (2) of Section 32 of the Factoring Regulation Act, 2011 (12 of 2012)~ the Central Government hereby makes the

following rules, namely :-

Short title and commencement.- (1) These rules may be called the Registration of Assignment of Receivables Rules, 2012.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. Definitions.-

(1) In these rules, unless the context otherwise requires,-

(a) "Act" means the Factoring Regulation Act, 2011 (12 of 2012);

(b) "Central Register" means the register kept and maintained under section 22 of the Securitisation and

Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002);

and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002);

¸ÀA¥ÀÄl 148

Volume 148

¨ÉAUÀ¼ÀÆgÀÄ, UÀÄgÀÄªÁgÀ, d£ÀªÀj 10, 2013 (¥ÀÄµÀå 20, ±ÀPÀ ªÀµÀð 1934)

Bangalore, Thursday, January 10, 2013 (Pushya 20, Shaka Varsha 1934)

¸ÀAaPÉ 2

Issue 2

PÀ£ÁðlPÀ gÁdå¥ÀvÀæ, UÀÄgÀÄªÁgÀ, d£ÀªÀj 10, 2013

¨sÁUÀ-4

(d) "Central Registry" means the Central Registry set up under section 20 of the Securitisation and Reconstruction of

Financial· Assets and Enforcement of Security Interest Act, 2002 (54 of 2002).

(e) “Forms” menas the Forms annexed to the rules.

(2) The words and expressions used in these rules -and not defmed shall have the meaning respectively assigned to them

in the Factoring Regulation Act, 2011 or the Securitisation and Reconstruction of Financial Assets and Enforcement of

Security Interest Act, 2002 (54 of 2002) or the Information Technology Act, 2000 (21 of 2000), as the case may be.

3. Registration of Transactions of assignment of receivables.-

Every Factor shall file particulars of,

(a) assignment of receivables in his favour with the Central Registry in Form-I and such form shall be authenticated by

a person specified in the form for such purpose by use of a valid digital signature;

(b) satisfaction of any transaction of assignment of receivables on realisation of the receivables fully in Form-II which

shall be authenticated by a person specified in the form for such purpose by use of a valid digital signature.

4. Time Limit for Registration and Condonation of Delay.-

The provisions contained in the Securitisation and Reconstruction of .Financial Assets and Enforcement of Security

Interest Act, 2002 and the rules made thereunder in relation to- registration of Security Interest, time-limit for registration

and condonation of delay in registration and all other related matters, shall apply to registration of assignment of

receivables - in favour of factors under the - provisions of this Act.

5. Inspection of records of Central Register.-

(1) The particulars of any transaction of assignment of receivables kept in the Central Registry shall be open for inspection

to any person through the website of the Central Registry and during the business hours at the Central Registry on

payment of fee specified in rule 6:

Provided that the Central Registry may allow the inspection to be carried out through such person authorised by it in

this behalf.

6. Fees.-

Every Form for registration of any transaction relating to assignment of receivables, satisfaction of receivables on

realisation and every request for inspection of any record maintaine by the Central Registry shall be accompanied by a

fee specified in the Table given below to be paid to the Central Registry in the manner as may be specified by the

Central Registrar from time to time.

TABLE

Serial

No.

Nature of transaction to be Registered

Form No.

Amount of fee payable

Particulars of Assignment of Receivables

Form I

Rs. 500 for assisgnment of receivables

Satisfaction of registration on realisation of the

receivable

Form II

Rs. 250

Any application for information recorded or

maintained in the Register by any person

…

Rs. 50

Any application for condonation of delay upto

30 days

…

Rs. 2500

[F.No. 6/3/2010-BO. II]

ALOK NIGAM, Jt. Secy.

¨sÁUÀ-4

PÀ£ÁðlPÀ gÁdå¥ÀvÀæ, UÀÄgÀÄªÁgÀ, d£ÀªÀj 10, 2013

Institution

Consortium

PÀ£ÁðlPÀ gÁdå¥ÀvÀæ, UÀÄgÀÄªÁgÀ, d£ÀªÀj 10, 2013

¨sÁUÀ-4

representing

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PÀ£ÁðlPÀ gÁdå¥ÀvÀæ, UÀÄgÀÄªÁgÀ, d£ÀªÀj 10, 2013

Father’s/Husband’s name

PÀ£ÁðlPÀ gÁdå¥ÀvÀæ, UÀÄgÀÄªÁgÀ, d£ÀªÀj 10, 2013

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Name

Sur

Name

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PÀ£ÁðlPÀ gÁdå¥ÀvÀæ, UÀÄgÀÄªÁgÀ, d£ÀªÀj 10, 2013

Corporate Identity Number

PÀ£ÁðlPÀ gÁdå¥ÀvÀæ, UÀÄgÀÄªÁgÀ, d£ÀªÀj 10, 2013

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PÀ£ÁðlPÀ gÁdå¥ÀvÀæ, UÀÄgÀÄªÁgÀ, d£ÀªÀj 10, 2013

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Company PAN

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¨sÁUÀ-4

PÀ£ÁðlPÀ gÁdå¥ÀvÀæ, UÀÄgÀÄªÁgÀ, d£ÀªÀj 10, 2013

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PÀ£ÁðlPÀ gÁdå¥ÀvÀæ, UÀÄgÀÄªÁgÀ, d£ÀªÀj 10, 2013

¨sÁUÀ-4

PÀ£ÁðlPÀ gÁdå¥Á®gÀ DzÉÃ±Á£ÀÄ¸ÁgÀ ªÀÄvÀÄÛ CªÀgÀ ºÉ¸Àj£À°è,

Dgï. DAd¤,

¸ÀºÁAiÀÄPÀ ¥ÁægÀÆ¥ÀPÁgÀ ªÀÄvÀÄÛ ¥ÀzÀ¤«ÄvÀÛ

PR -73

¸ÀPÁðgÀzÀ G¥À PÁAiÀÄðzÀ²ð,

¸ÀA¸À¢ÃAiÀÄ ªÀåªÀºÁgÀUÀ¼ÀÄ ªÀÄvÀÄÛ ±Á¸À£À gÀZÀ£É E¯ÁSÉ

¸ÀA¸À¢ÃAiÀÄ ªÀåªÀºÁgÀUÀ¼ÀÄ ªÀÄvÀÄÛ ±Á¸À£À gÀZÀ£É ¸ÀaªÁ®AiÀÄ

C¢ü¸ÀÆZÀ£É

¸ÀASÉå: ¸ÀAªÀå±ÁE 59 PÉÃ¤¥Àæ 2012, ¨ÉAUÀ¼ÀÆgÀÄ, ¢£ÁAPÀ: 7£ÉÃ £ÀªÉA§gï, 2012.

2012£ÉÃ ¸Á°£À 23-04-2012 ¢£ÁAPÀzÀ ¨sÁgÀvÀ ¸ÀPÁðgÀzÀ UÉeÉmï£À «±ÉÃµÀ ¸ÀAaPÉAiÀÄ ¨sÁUÀ-II ¸ÉPÀë£ï 3(1) gÀ°è ¥ÀæPÀlªÁzÀ F

PÉ¼ÀPÀAqÀ G.S.R. 313(E) ¢£ÁAPÀ : 24-04-2012 C£ÀÄß ¸ÁªÀðd¤PÀgÀ ªÀiÁ»wUÁV PÀ£ÁðlPÀ gÁdå¥ÀvÀæzÀ°è ªÀÄgÀÄ ¥ÀæPÀn¸À¯ÁVzÉ.

MINISTRY OF CORPORATE AFFAIRS

NOTIFlCATION

New Delhi, the 24th April, 2012

GS.R. 313(E).-· In exercise of the powers conferred by sub-section (1) of section 642 read with section 610B of the

Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules further to amend the Companies

(Central Government’s) General Rules and Forms, 1956, namely :-

(1)

The rules may be called the Companies (Central Government’s) General Rules and Forms

(Amendment) Rules, 2012.

(2) These rules shall come into force with effect from the 24^th April, 2012.

In the Companies (Central Government’s) General Rules and Forms, 1956, in Annexure `A’ for Forms 23C and 23D,

the following Forms shall be substituted, namely :-

Officer at the Central Registry

(dd/mm/yyyy)

¨sÁUÀ-4

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PÀ£ÁðlPÀ gÁdå¥ÀvÀæ, UÀÄgÀÄªÁgÀ, d£ÀªÀj 10, 2013

¨sÁUÀ-4

[F No 2/1/2012- CL V]

B.B. Goyal, Advisor (Cost)

Note:- The principal notification was published in the Gazette of India, Part II, Section 3, Sub-section (i) vide number G.S.R. 432(E)

dated the 18th January, 1956 and subsequently amended vide the following notifications:-

¨sÁUÀ-4

PÀ£ÁðlPÀ gÁdå¥ÀvÀæ, UÀÄgÀÄªÁgÀ, d£ÀªÀj 10, 2013

Serial

Number

Notification

Number

Notification

Date

Serial

Number

Notification

Number

Notification

Date

PÀ£ÁðlPÀ gÁdå¥ÀvÀæ, UÀÄgÀÄªÁgÀ, d£ÀªÀj 10, 2013

¨sÁUÀ-4

Serial

Number

Notification

Number

Notification

Date

Serial

Number

Notification

Number

Notification

Date

PÀ£ÁðlPÀ gÁdå¥Á®gÀ DzÉÃ±Á£ÀÄ¸ÁgÀ ªÀÄvÀÄÛ CªÀgÀ ºÉ¸Àj£À°è,

f. ²æÃzsÀgï,

¸ÀºÁAiÀÄPÀ ¥ÁægÀÆ¥ÀPÁgÀ ªÀÄvÀÄÛ ¥ÀzÀ¤«ÄvÀÛ

¸ÀPÁðgÀzÀ G¥À PÁAiÀÄðzÀ²ð,

P.R. 80

¸ÀA¸À¢ÃAiÀÄ ªÀåªÀºÁgÀUÀ¼ÀÄ ªÀÄvÀÄÛ ±Á¸À£À gÀZÀ£É E¯ÁSÉ.

¸ÀA¸À¢ÃAiÀÄ ªÀåªÀºÁgÀUÀ¼ÀÄ ªÀÄvÀÄÛ ±Á¸À£À gÀZÀ£É ¸ÀaªÁ®AiÀÄ

C¢ü¸ÀÆZÀ£É

¸ÀASÉå: ¸ÀAªÀå±ÁE 56 PÉÃ¤¥Àæ 2012, ¨ÉAUÀ¼ÀÆgÀÄ, ¢£ÁAPÀ: 07£ÉÃ £ÀªÉA§gï, 2012.

2012£ÉÃ ¸Á°£À 25-07-2012 ¢£ÁAPÀzÀ ¨sÁgÀvÀ ¸ÀPÁðgÀzÀ UÉeÉmï£À «±ÉÃµÀ ¸ÀAaPÉAiÀÄ ¨sÁUÀ-II ¸ÉPÀë£ï 3(1) gÀ°è ¥ÀæPÀlªÁzÀ F

PÉ¼ÀPÀAqÀ S.O. 1693(E) ¢£ÁAPÀ: 25-07-2012 C£ÀÄß ¸ÁªÀðd¤PÀgÀ ªÀiÁ»wUÁV PÀ£ÁðlPÀ gÁdå¥ÀvÀæzÀ°è ªÀÄgÀÄ ¥ÀæPÀn¸À¯ÁVzÉ.

MINISTRY OF FINANCE

(Department of Revenue)

NOTIFlCATION

New Delhi, the 25th July, 2012

(INCOME-TAX)

S.O. 1693 (E).-· Whereas an Agreement and the Protocol between the Government of the Republic of India and the

Government of the Republic of Lithuania for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with

Respect to Taxes on Income and on Capital (DTAA) was signed at New Delhi on 26th July, 2011;

And whereas, the date of entry into force of the said Agreement is the 10th July, 2012, being the date of the 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 31 of the said Agreement;

And whereas, sub-paragraph (a) of paragraph 3 of Article 31 of the said Agreement provides that the provisions of the

said Agreement shall have effect in India in respect of taxes withheld at source, on income derived on or after the first day of

¨sÁUÀ-4

PÀ£ÁðlPÀ gÁdå¥ÀvÀæ, UÀÄgÀÄªÁgÀ, d£ÀªÀj 10, 2013

April next following the calendar year in which the Agreement enters into force; and, in respect of other taxes on income and

taxes on capital, for taxes chargeable for any fiscal year beginning on or after the first day of April next following the calendar

year in which the Agreement enters into force;

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 said Agreement, as set out in the Annexure hereto, shall be given

effect to in the Union of India from 1st day of April, 2013.

ANNEXURE

AGREEMENT

BETWEEN

THE GOVERNMENT OF THE REPUBLIC OF INDIA

AND THE GOVERNMENT OF THE REPUBLIC OF LITHUANIA

FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF

FISCAL EVASION

WITH RESPECT TO TAXES ON INCOME AND ON CAPITAL

The Government of the Republic of India and the Government of the Republic of Lithuania, desiring to conclude an Agreement

for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital and with a view

to promoting economic cooperation between the two Contracting States, have agreed as follows:

Article 1

PERSONS COVERED

This Agreement shall apply to persons who are residents of one or both of the Contracting States.

Article 2

TAXES COVERED

1. This Agreement shall apply to taxes on income and on capital imposed on behalf of a Contracting State or of its political

subdivisions or local authorities, irrespective of the manner in which they are levied.

2. There shall be regarded as taxes on income and on capital all taxes imposed on total income, on total capital, or on elements

of income or of capital, including taxes on gains from the alienation of movable or immovable property.

3. The existing taxes to which the Agreement shall apply are in particular:

(a) in India:

(i) the income tax, including any surcharge thereon;

(ii) the wealth tax, including any surcharge thereon;

(hereinafter referred to as "Indian tax");

(b) in Lithuania:

(i) the profit tax (pelno mokestis);

(ii) the income tax (pajamu mokestis);

(iii) the immovable property tax (nekilnojamojo turto mokestis);

(hereinafter referred to as "Lithuanian tax").

4. The Agreement shall apply also to any identical or substantially similar taxes that are imposed after the date of signature of

the Agreement in addition to, or in place of, the existing taxes. The competent authorities of the Contracting States shall notify each

other of any significant changes that have been made in their taxation laws.

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Article 3

GENERAL DEFINITIONS

1. For the purposes of this Agreement, unless the context otherwise requires:

(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 rights, other rights and jurisdiction, according to the Indian law and in

accordance with international law, including the U.N. Convention on the Law of the Sea;

(b) the term "Lithuania" means the Republic of Lithuania and, when used in the geographical sense, means the territory

of the Republic of Lithuania and any other area adjacent to the territorial sea of the Republic of Lithuania within which

under the laws of the Republic of Lithuania and in accordance with international law, the rights of Lithuania may be

exercised with respect to the sea bed and its subsoil and their natural resources;

(d) 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 State;

(e) the term "company" means any body corporate or any entity that is treated as a body corporate for tax purposes;

(f)

the terms "enterprise of a Contracting State" and "enterprise of the other Contracting State" mean respectively an

enterprise carried on by a resident of a Contracting State and an enterprise carried on by a resident of the other

Contracting State;

(g) the term "international traffic" means any transport by a ship or aircraft operated by an enterprise of a Contracting

State, except when the ship or aircraft is operated solely between places in the other Contracting State;

(h) the term "competent authority" means:

(i) in India: the Finance Minister, Government of India, or his authorised representative;

(ii) in Lithuania: the Minister of Finance or his authorised representative;

(i)

the term "national" means:

(i) any individual possessing the nationality of a Contracting State;

(ii) any legal person, partnership or association deriving its status as such from the laws in force in a Contracting State;

(j)

the term "tax" means Indian or Lithuanian tax, as the context requires, but shall not include any amount which is

payable in respect of any default or omission in relation to the taxes to which this Agreement applies or which

represents a penalty or fine imposed relating to those taxes;

(k) the term "fiscal year" means:

(i) in India: the financial year beginning on the 1st day of April;

(ii) in Lithuania: the taxation period as defined in the respective tax laws of Lithuania.

2. As regards the application of the Agreement at any time by a Contracting State, any term not defined therein shall, unless the

context otherwise requires, have the meaning that it has at that time under the law of that State for the purposes of the taxes to which

the Agreement applies, any meaning under the applicable tax laws of that State prevailing over a meaning given to the term under other

laws of that State.

Article 4

RESIDENT

1. For the purposes of this Agreement, the term "resident of a Contracting State" means any person who, under the laws of that

State, is liable to tax therein by reason of his domicile, residence, place of management, place of incorporation or any other criterion of a

similar nature, and also includes that State and any political subdivision or local authority thereof. This term, however, does not include

any person who is liable to tax in that State in respect only of income from sources in that State or capital situated therein.

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2. Where by reason of the provisions of paragraph 1 an individual is a resident of both Contracting States, then his status shall

be determined as follows:

(a) he shall be deemed to be a resident only of the State in which he has a permanent home available to him; if he has a

permanent home available to him in both States, he shall be deemed to be a resident only of the State with which his

personal and economic relations are closer (centre of vital interests);

(b) if the State in which he has his centre of vital interests cannot be determined, or if he has not a permanent home

available to him in either State, he shall be deemed to be a resident only of the State in which he has an habitual

abode;

(c)

if he has an habitual abode in both States or in neither of them, he shall be deemed to be a resident only of the State

of which he is a national;

(d) if he is a national of both States or of neither of them, the competent authorities of the Contracting States shall settle

the question by mutual agreement.

3. Where by reason of the provisions of paragraph 1 a person other than an individual is a resident of both Contracting States,

the competent authorities of the Contracting States shall endeavour to settle the question by mutual agreement having regard to the

person's place of incorporation, the place of effective management and any other relevant factors. In the absence of such agreement,

for the purposes of the Agreement, the person shall not be entitled to claim any benefits provided by this Agreement.

Article 5

PERMANENT ESTABLISHMENT

1. For the purposes of this Agreement, the term "permanent establishment" means a fixed place of business through which the

business of an enterprise is wholly or partly carried on.

2. The term "permanent establishment" includes especially:

(a) place of management;

(b) a branch;

(d) a factory;

(e) a workshop;

(f)

a store or premises used as a sales outlet;

(g) a warehouse in relation to a person providing storage facilities for others; and

(h) a mine, an oil or gas well, a quarry or any other place of extraction of natural resources.

3. (a) A building site, or construction, installation or assembly project or supervisory activities connected therewith constitute a

permanent establishment only if such site, project or activities last more than nine months.

(b) The furnishing of services, including consultancy services, by an enterprise through employees or other personnel

engaged by the enterprise for such purpose constitutes a permanent establishment, but only where activities of that

nature continue (for the same or connected project) within the Contracting State for a period or periods aggregating

more than six months within any twelve month period.

(c) Activities carried on offshore in a Contracting State in connection with the exploration or exploitation of the sea bed

and sub-soil and their natural resources constitute a permanent establishment if such activities are carried on for a

period or periods exceeding in the aggregate 30 days in any twelve month period.

4. Notwithstanding the preceding provisions of this Article, the term "permanent establishment" shall be deemed not to include:

(a) the use of facilities solely for the purpose of storage, display or occasional delivery of goods or merchandise belonging

to the enterprise;

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(b) the maintenance of a stock of goods or merchandise belonging to the enterprise solely for the purpose of storage, display or

occasional delivery;

(c) the maintenance of a stock of goods or merchandise belonging to the enterprise solely for the purpose of processing by

another enterprise;

(d) the maintenance of a fixed place of business solely for the purpose of purchasing goods or merchandise or of collecting

information, for the enterprise;

(e) the maintenance of a fixed place of business solely for the purpose of carrying on, for the enterprise, any other activity of a

preparatory or auxiliary character;

(f)

the maintenance of a fixed place of business solely for any combination of activities mentioned in sub-paragraphs (a)

to (e), provided that the overall activity of the fixed place of business resulting from this combination is of a preparatory or

auxiliary character.

5. Notwithstanding the provisions of paragraphs 1 and 2, where a person - other than an agent of an independent status to

whom paragraph 6 applies - is acting in a Contracting State on behalf of an enterprise of the other Contracting State, that enterprise

shall be deemed to have a permanent establishment in the first-mentioned Contracting State in respect of any activities which that

person undertakes for the enterprise, if such a person:

(a) has and habitually exercises, in that State an authority to conclude contracts in the name of the enterprise, unless the

activities of such person are limited to those mentioned in paragraph 4 which, if exercised through a fixed place of business,

would not make this fixed place of business a permanent establishment under the provisions of that paragraph; or

(b) has no such authority, but habitually maintains in the first-mentioned State a stock of goods or merchandise from which he

regularly delivers goods or merchandise on behalf of the enterprise; or

6. An enterprise shall not be deemed to have a permanent establishment in a Contracting State merely because it carries on

business in that State through a broker, general commission agent or any other agent of an independent status, provided that such

persons are acting in the ordinary course of their business. However, when the activities of such an agent are devoted wholly or almost

wholly on behalf of that enterprise, he will not be considered an agent of an independent status within the meaning of this paragraph.

7. The fact that a company which is a resident of a Contracting State controls or is controlled by a company which is a resident

of the other Contracting State, or which carries on business in that other State (whether through a permanent establishment or

otherwise), shall not of itself constitute either company a permanent establishment of the other.

Article 6

INCOME FROM IMMOVABLE PROPERTY

1. Income derived by a resident of a Contracting State from immovable property (including income from agriculture or forestry)

situated in the other Contracting State may be taxed in that other State.

2. The term "immovable property" shall have the meaning which it has under the law of the Contracting State in which the

property in question is situated. The term shall in any case include property accessory to immovable property, livestock and equipment

used in agriculture and forestry, rights to which the provisions of general law respecting landed property apply, any option or similar right

to acquire immovable property, usufruct of immovable property and rights to variable or fixed payments as consideration for the working

of, or the right to work, mineral deposits, sources and other natural resources, rights to assets to be produced by the exploration or

exploitation of the sea bed and sub-soil and their natural resources, including rights to interests in or to the benefit of such assets. Ships,

boats and aircraft shall not be regarded as immovable property.

3. The provisions of paragraph 1 shall apply to income derived from the direct use, letting, or use in any other form of immovable

property.

4. The provisions of paragraphs 1 and 3 shall also apply to the income from immovable property of an enterprise and to income

from immovable property used for the performance of independent personal services.

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Article 7

BUSINESS PROFITS

1. The profits of an enterprise of a Contracting State shall be taxable only in that State unless the enterprise carries on business

in the other Contracting State through a permanent establishment situated therein. If the enterprise carries on business as aforesaid, the

profits of the enterprise may be taxed in the other State but only so much of them as is attributable to that permanent establishment.

2. Subject to the provisions of paragraph 3, where an enterprise of a Contracting State carries on business in the other

Contracting State through a permanent establishment situated therein, there shall in each Contracting State be attributed to that

permanent establishment the profits which it might be expected to make if it were a distinct and separate enterprise engaged in the

same or similar activities under the same or similar conditions and dealing wholly independently with the enterprise of which it is a

permanent establishment.

3. In determining the profits of a permanent establishment, there shall be allowed as deductions expenses which are incurred for

the purposes of the permanent establishment, including executive and general administrative expenses so incurred, whether in the

State in which the permanent establishment is situated or elsewhere, in accordance with the domestic laws of the Contracting State in

which the permanent establishment is situated.

4. Insofar as it has been customary in a Contracting State to determine the profits to be attributed to a permanent establishment

on the basis of an apportionment of the total profits of the enterprise to its various parts, nothing in paragraph 2 shall preclude that

Contracting State from determining the profits to be taxed by such an apportionment as may be customary; the method of

apportionment adopted shall, however, be such that the result shall be in accordance with the principles contained in this Article.

5. No profits shall be attributed to a permanent establishment by reason of the mere purchase by that permanent establishment

of goods or merchandise for the enterprise.

6. For the purposes of the preceding paragraphs, the profits to be attributed to the permanent establishment shall be determined

by the same method year by year unless there is good and sufficient reason to the contrary.

7. Where profits include items of income which are dealt with separately in other Articles of this Agreement, then the provisions

of those Articles shall not be affected by the provisions of this Article.

Article 8

SHIPPING AND AIR TRANSPORT

1. Profits of an enterprise of a Contracting State from the operation of ships or aircraft in international traffic shall be taxable only

in that State.

2. The provisions of paragraph 1 shall also apply to profits from the participation in a pool, a joint business or an international

operating agency.

Article 9

ASSOCIATED ENTERPRISES

1. Where : -

(a) an enterprise of a Contracting State participates directly or indirectly in the management, control or capital of an enterprise of

the other Contracting State, or

(b) the same persons participate directly or indirectly in the management, control or capital of an enterprise of a Contracting

State and an enterprise of the other Contracting State,

and in either case conditions are made or imposed between the two enterprises in their commercial or financial relations which differ

from those which would be made between independent enterprises, then any profits which would, but for those conditions, have

accrued to one of the enterprises, but, by reason of those conditions, have not so accrued, may be included in the profits of that

enterprise and taxed accordingly.

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2. Where a Contracting State includes in the profits of an enterprise of that State - and taxes accordingly - profits on which an

enterprise of the other Contracting State has been charged to tax in that other State and the profits so included are profits which would

have accrued to the enterprise of the first-mentioned State if the conditions made between the two enterprises had been those which

would have been made between independent enterprises, then that other State may make an appropriate adjustment to the amount of

the tax charged therein on those profits. In determining such adjustment, due regard shall be had to the other provisions of this

Agreement and the competent authorities of the Contracting States shall if necessary consult each other.

Article 10

DIVIDENDS

1. Dividends paid by a company which is a resident of a Contracting State to a resident of the other Contracting State may be

taxed in that other State.

2. However, such dividends may also be taxed in the Contracting State of which the company paying the dividends is a resident

and according to the laws of that State, but if the beneficial owner of the dividends is a resident of the other Contracting State, the tax so

charged shall not exceed:

(a) 5 per cent of the gross amount of the dividends if the beneficial owner is a company (other than a partnership) which

holds directly at least 10 per cent of the capital of the company paying the dividends;

(b) 15 per cent of the gross amount of the dividends in all other cases.

This paragraph shall not affect the taxation of the company in respect of the profits out of which dividends are paid.

3. The term "dividends" as used in this Article means income from shares or other rights, not being debt-claims, participating in

profits, as well as income from other rights which is subjected to the same taxation treatment as income from shares by the laws of the

State of which the company making the distribution is a resident.

4. The provisions of paragraphs 1 and 2 shall not apply if the beneficial owner of the dividends, being a resident of a Contracting

State, carries on business in the other Contracting State of which the company paying the dividends is a resident, through a permanent

establishment situated therein, or performs in that other State independent personal services from a fixed base situated therein, and the

holding in respect of which the dividends are paid is effectively connected with such permanent establishment or fixed base. In such

case the provisions of Article 7 or Article 14, as the case may be, shall apply.

5. Where a company which is a resident of a Contracting State derives profits or income from the other Contracting State, that

other State may not impose any tax on the dividends paid by the company, except insofar as such dividends are paid to a resident of

that other State or insofar as the holding in respect of which the dividends are paid is effectively connected with a permanent

establishment or a fixed base situated in that other State, nor subject the company's undistributed profits to a tax on the company's

undistributed profits, even if the dividends paid or the undistributed profits consist wholly or partly of profits or income arising in such

other State.

Article 11

INTEREST

1. Interest arising in a Contracting State and paid to a resident of the other Contracting State may be taxed in that other State.

2. However, such interest may also be taxed in the Contracting State in which it arises and according to the laws of that State,

but if the beneficial owner of the interest is a resident of the other Contracting State, the tax so charged shall not exceed 10 per cent of

the gross amount of the interest.

3. Notwithstanding the provisions of paragraph 2, interest arising in a Contracting State shall be exempt from tax in that State,

provided that it is derived and beneficially owned by:

(a)

the Government, a political subdivision or a local authority of the other Contracting State; or

(b) (i) in India, the Reserve Rank of India, the Export-Import Bank of India, the National Housing Bank; and

(ii) in Lithuania, the Bank of Lithuania; or

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between the competent authorities of the Contracting States.

4. The term "interest" as used in this Article means income from debt-claims of every kind, whether or not secured by mortgage

and whether or not carrying a right to participate in the debtor's profits, and in particular, income from government securities and income

from bonds or debentures, including premiums and prizes attaching to such securities, bonds or debentures. The term "interest" shall

not include any income which is treated as a dividend under the provisions of Article 10. Penalty charges for late payment shall not be

regarded as interest for the purpose of this Article.

5. The provisions of paragraphs 1 and 2 shall not apply if the beneficial owner of the interest, being a resident of a Contracting

State, carries on business in the other Contracting State in which the interest arises, through a permanent establishment situated

therein, or performs in that other State independent personal services from a fixed base situated therein, and the debt-claim in respect

of which the interest is paid is effectively connected with such permanent establishment or fixed base. In such case the provisions of

Article 7 or Article 14, as the case may be, shall apply.

6. Interest shall be deemed to arise in a Contracting State when the payer is a resident of that State. Where, however, the

person paying the interest, whether he is a resident of a Contracting State or not, has in a Contracting State a permanent establishment

or a fixed base in connection with which the indebtedness on which the interest is paid was incurred, and such interest is borne by such

permanent establishment or fixed base, then such interest shall be deemed to arise in the State in which the permanent establishment

or fixed base is situated.

7. Where, by reason of a special relationship between the payer and the beneficial owner or between both of them and some

other person, the amount of the interest, having regard to the debt-claims for which it is paid, exceeds the amount which would have

been agreed upon by the payer and the beneficial owner in the absence of such relationship, the provisions of this Article shall apply

only to the last-mentioned amount. In such case, the excess part of the payments shall remain taxable according to the laws of each

Contracting State, due regard being had to the other provisions of this Agreement.

Article 12

ROYALTIES AND FEES FOR TECHNICAL SERVICES

1. Royalties or fees for technical services arising in a Contracting State and paid to a resident of the other Contracting State

may be taxed in that other State.

2. However, such royalties or fees for technical services may also be taxed in the Contracting State in which they arise and

according to the laws of that State, but if the beneficial owner of the royalties or fees for technical services is a resident of the other

Contracting State, the tax so charged shall not exceed 10 per cent of the gross amount of the royalties or fees for technical services.

3. (a) The term "royalties" as used in this Article means payments of any kind received as a consideration for the use of, or

the right to use, any copyright of literary, artistic or scientific work including cinematograph films or films or tapes and

other means of image or sound reproduction used for television or radio broad casting, any patent, trade mark, design

or model, plan, secret formula or process, or for the use of, or the right to use, industrial, commercial or scientific

equipment, or for information concerning industrial, commercial or scientific experience.

(b) The term "fees for technical services" as used in this Article means payments of any kind, other than those mentioned in

Articles 14 and 15 of this Agreement in consideration for the services of a managerial or technical or consultancy nature,

including the provision of services of technical or other personnel.

4. The provisions of paragraphs 1 and 2 shall not apply if the beneficial owner of the royalties or fees for technical services,

being a resident of a Contracting State, carries on business in the other Contracting State in which the royalties or fees for technical

services arise, through a permanent establishment situated therein, or performs in that other State independent personal services from

a fixed base situated therein, and the right or property or service in respect of which the royalties or fees for technical services are paid

is effectively connected with such permanent establishment or fixed base. In such case the provisions of Article 7 or Article 14, as the

case may be, shall apply.

5. Royalties or fees for technical services shall be deemed to arise in a Contracting State when the payer is a resident of that

State. Where, however, the person paying the royalties or fees for technical services, whether he is a resident of a Contracting State or

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not, has in a Contracting State a permanent establishment or a fixed base in connection with which the liability to pay the royalties or

fees for technical services was incurred, and such royalties or fees for technical services are borne by such permanent establishment or

fixed base, then such royalties or fees for technical services shall be deemed to arise in the Contracting State in which the permanent

establishment or fixed base is situated.

6. Where, by reason of a special relationship between the payer and the beneficial owner or between both of them and some

other person, the amount of the royalties or fees for technical services, having regard to the use, right or information or service for which

they are paid, exceeds the amount which would have been agreed upon by the payer and the beneficial owner in the absence of such

relationship, the provisions of this Article shall apply only to the last-mentioned amount. In such case, the excess part of the payments

shall remain taxable according to the laws of each Contracting State, due regard being had to the other provisions of this Agreement.

Article 13

CAPITAL GAINS

1. Gains or income derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6

and situated in the other Contracting State may be taxed in that other State.

2. Gains from the alienation of movable property forming part of the business property of a permanent establishment which an

enterprise of a Contracting State has in the other Contracting State or of movable property pertaining to a fixed base available to a

resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including

such gains from the alienation of such a permanent establishment (alone or with the whole enterprise) or of such fixed base, may be

taxed in that other State.

3. Gains derived by an enterprise of a Contracting State operating ships or aircraft in international traffic from the alienation of

ships or aircraft-operated in international traffic or movable property pertaining to the operation of such ships or aircraft, shall be taxable

only in that State.

4. Gains from the alienation of shares in a company which is a resident of a Contracting State may be taxed in that State.

5. Gains from the alienation of any property other than that referred to in the preceding paragraphs shall be taxable only in the

Contracting State of which the alienator is a resident.

Article 14

INDEPENDENT PERSONAL SERVICES

1. Income derived by an individual who is a resident of a Contracting State in respect of professional services or other activities

of an independent character shall be taxable only in that State. However, such income may also be taxed in the other Contracting State

if:

(a)

the individual has a fixed base regularly available to him in the other Contracting State for the purpose of performing his

activities; in that case, only so much of the income as is attributable to that fixed base; or

(b)

the individual is present in the other Contracting State for a period or periods amounting to or exceeding in the

aggregate 183 days in any twelve month period commencing or ending in the fiscal year concerned; in that case, only

so much of the income as is derived from his activities performed in that other Contracting State.

2. The term "professional services" includes especially independent scientific, literary, artistic, educational or teaching activities

as well as the independent activities of physicians, lawyers, engineers, architects, surgeons, dentists and accountants.

Article 15

DEPENDENT PERSONAL SERVICES

1. Subject to the provisions of Articles 16, 18, 19 and 20, salaries, wages and other similar remuneration derived by a resident of

a Contracting State in respect of an employment shall be taxable only in that State unless the employment is exercised in the other

Contracting State. If the employment is so exercised, such remuneration as is derived therefrom may be taxed in that other State.

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2. Notwithstanding the provisions of paragraph 1, remuneration derived by a resident of a Contracting State in respect of an

employment exercised in the other Contracting State shall be taxable only in the first-mentioned State if:

(a)

the recipient is present in the other State for a period or periods not exceeding in the aggregate 183 days in any twelve

month period commencing or ending in the fiscal year concerned, and

(b)

the remuneration is paid by, or on behalf of, an employer who is not a resident of the other State, and

(c)

the remuneration is not borne by a permanent establishment or a fixed base which the employer has in the other State.

3. Notwithstanding the preceding provisions of this Article, remuneration derived in respect of an employment exercised aboard

a ship or aircraft operated in international traffic by an enterprise of a Contracting State may be taxed in that State.

Article 16

DIRECTORS' FEES

Directors' fees and other similar payments derived by a resident of a Contracting State in his capacity as a member of the board

of directors or any other similar organ of a company which is a resident of the other Contracting State may be taxed in that other State.

Article 17

ARTISTES AND SPORTSPERSONS

1. Notwithstanding the provisions of Articles 14 and 15, income derived by a resident of a Contracting State as an entertainer,

such as a theatre, motion picture, radio or television artiste, or a musician, or as a sportsperson, from personal activities as such

exercised in the other Contracting State, may be taxed in that other State.

2. Where income in respect of personal activities exercised by an entertainer or a sportsperson in his capacity as such accrues

not to the entertainer or sportsperson himself but to another person, that income may, notwithstanding the provisions of Articles 7, 14

and 15, be taxed in the Contracting State in which the activities of the entertainer or sportsperson are exercised.

3. The provisions of paragraphs 1 and 2 shall not apply to income derived from activities exercised in a Contracting State by an

entertainer or a sportsperson if the activities are substantially supported by public funds of one or both of the Contracting States or of

political sub-divisions or local authorities thereof. In such a case, the income shall be taxable only in the Contracting State of which the

entertainer or sportsperson is a resident.

Article 18

PENSIONS

1. Subject to the provisions of paragraph 2 of Article 19, pensions and other similar remuneration paid to a resident of a

Contracting State in consideration of past employment shall be taxable only in that State.

2. Notwithstanding the provisions of paragraph 1, and subject to the provisions of paragraph 2 of Article 19, pensions paid and

other benefits, whether paid periodically or in a lumpsum, granted under the social security legislation of a Contracting State shall be

taxable in that State.

Article 19

GOVERNMENT SERVICE

1. (a) Salaries, wages and other similar remuneration, other than a pension, paid by a Contracting State or a political sub-

division or a local authority thereof to an individual in respect of services rendered to that State or sub-division or authority shall be

taxable only in that State.

(b) However, such salaries, wages and other similar remuneration shall be taxable only in the other Contracting State if the

services are rendered in that State and the individual is a resident of that State who:

(i) is a national of that State; or

(ii) did not become a resident of that State solely for the purpose of rendering the services.

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2.(a) Any pension paid by, or out of funds created by, a Contracting State or a political sub-division or a local authority thereof to

an individual in respect of services rendered to that State or sub-division or authority shall be taxable only in that State.

(b) However, such pension shall be taxable only in the other Contracting State if the individual is a resident of, and a national of,

that State.

3. The provisions of Articles 15, 16, 17 and 18 shall apply to salaries, wages and other similar remuneration, and to pensions, in

respect of services rendered in connection with a business carried on by a Contracting State or a political sub-division or a local

authority thereof.

Article 20

PROFESSORS, TEACHERS AND RESEARCH SCHOLARS

1. A professor, teacher or research scholar who is or was a resident of a Contracting State immediately before visiting the other

Contracting State for the purpose of teaching or engaging in research, or both, at a university, college or other similar approved

institution in that other Contracting State shall be exempt from tax in that other State on any remuneration for such teaching or research

for a period not exceeding two years from the date of his first arrival in that other State.

2. This Article shall apply to income from research only if such research is undertaken by the individual in the public interest and

not primarily for the benefit of some private person or persons.

Article 21

STUDENTS

1. Payments which a student, an apprentice or a trainee who is or was immediately before visiting a Contracting State a resident

of the other Contracting State and who is present in the first-mentioned State solely for the purpose of his education or training receives

for the purpose of his maintenance, education or training shall not be taxed in that State, provided that such payments arise from

sources outside that State.

Article 22

OTHER INCOME

1. Items of income of a resident of a Contracting State, wherever arising, not dealt with in the foregoing Articles of this

Agreement shall be taxable only in that State.

2. The provisions of paragraph 1 shall not apply to income, other than income from immovable property as defined in paragraph

2 of Article 6, if the recipient of such income, being a resident of a Contracting State, carries on business in the other Contracting State

through a permanent establishment situated therein, or performs in that other State independent personal services from a fixed base

situated therein, and the right or property in respect of which the income is paid is effectively connected with such permanent

establishment or fixed base. In such case the provisions of Article 7 or Article 14, as the case may be, shall apply.

3. Notwithstanding the provisions of paragraph 1, items of income of a resident of a Contracting State not dealt with in the

foregoing Articles of this Agreement and arising in the other Contracting State may also be taxed in that other State.

Article 23

CAPITAL

1. Capital represented by immovable property referred to in Article 6, owned by a resident of a Contracting State and situated in

the other Contracting State, may be taxed in that other State.

2. Capital represented by movable property forming part of the business property of a permanent establishment which an

enterprise of a Contracting State has in the other Contracting State or by movable property pertaining to a fixed base available to a

resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, may be

taxed in that other State.

3. Capital represented by ships and aircraft operated in international traffic by an enterprise of a Contracting State and by

movable property pertaining to the operation of such ships and aircraft, shall be taxable only in that State.

4. All other elements of capital of a resident of a Contracting State shall be taxable only in that State.

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Article 24

METHODS FOR ELIMINATION OF DOUBLE TAXATION

1. In India, double taxation shall be eliminated as follows:

(a)

Where a resident of India derives income or owns capital which, in accordance with the provisions of this Agreement,

may be taxed in Lithuania, India shall allow:

(i)

as a deduction from the tax on the income of that resident, an amount equal to the income tax paid in Lithuania;

(ii) as a deduction from the tax on the capital of that resident, an amount equal to the capital tax paid in Lithuania.

Such deduction in either case shall not, however, exceed that portion of the income tax or capital tax as computed

before the deduction is given, which is attributable, as the case may be, to the income or the capital which may be taxed

in Lithuania.

(b)

Where in accordance with any provision of the Agreement income derived or capital owned by a resident of India is

exempt from tax in India, India may nevertheless, in calculating the amount of tax on the remaining income or capital of

such resident, take into account the exempted income or capital.

2. In Lithuania, double taxation shall be eliminated as follows:

Where a resident of Lithuania derives income or owns capital which, in accordance with this Agreement, may be taxed in

India, unless a more favourable treatment is provided in its domestic law, Lithuania shall allow:

(a)

as a deduction from the tax on the income of that resident, an amount equal to the income tax paid thereon in India;

(b)

as a deduction from the tax on the capital of that resident, an amount equal to the capital tax paid thereon in India.

Such deduction in either case shall not, however, exceed that part of the income tax or capital tax in Lithuania as computed

before the deduction is given, which is attributable, as the case may be, to the income or the capital which may be taxed in India.

Article 25

NON-DISCRIMINATION

1. Nationals of a Contracting State shall not be subjected in the other Contracting State to any taxation or any requirement

connected therewith, which is other or more burdensome than the taxation and connected requirements to which nationals of that other

State in the same circumstances, in particular with respect to residence, are or may be subjected. This provision shall, notwithstanding

the provisions of Article 1, also apply to persons who are not residents of one or both of the Contracting States.

2. The taxation on a permanent establishment which an enterprise of a Contracting State has in the other Contracting State

shall not be less favourably levied in that other State than the taxation levied on enterprises of that other State carrying on the same

activities. This provision shall not be construed as obliging a Contracting State to grant to residents of the other Contracting State any

personal allowances, reliefs and reductions for taxation purposes on account of civil status or family responsibilities which it grants to its

own residents. This provision shall not be construed as preventing a Contracting State from charging the profits of a permanent

establishment which a company of the other Contracting State has in the first-mentioned State at a rate of tax which is higher than that

imposed on the profits of a similar company of the first-mentioned Contracting State, nor as being in conflict with the provisions of

paragraph 3 of Article 7. However, the difference in tax rates shall not exceed 10 percentage points.

3. Except where the provisions of paragraph 1 of Article 9, paragraph 7 of Article 11, or paragraph 6 of Article 12, apply, interest,

royalties or fees for technical services and other disbursements paid by an enterprise of a Contracting State to a resident of the other

Contracting State shall, for the purpose of determining the taxable profits of such enterprise, be deductible under the same conditions as

if they had been paid to a resident of the first-mentioned State. Similarly, any debts of an enterprise of a Contracting State to a resident

of the other Contracting State shall, for the purpose of determining the taxable capital of such enterprise, be deductible under the same

conditions as if they had been contracted to a resident of the first-mentioned State.

4. Enterprises of a Contracting State, the capital of which is wholly or partly owned or controlled, directly or indirectly, by one or

more residents of the other Contracting State, shall not be subjected in the first-mentioned State to any taxation or any requirement

connected therewith which is other or more burdensome than the taxation and connected requirements to which other similar

enterprises of the first-mentioned State are or may be subjected.

5. The provisions of this Article shall, notwithstanding the provisions of Article 2, apply to taxes of every kind and description.

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Article 26

MUTUAL AGREEMENT PROCEDURE

1. Where a person considers that the actions of one or both of the Contracting States result or will result for him in taxation not

in accordance with the provisions of this Agreement, he may, irrespective of the remedies provided by the domestic law of those States,

present his case to the competent authority of the Contracting State of which he is a resident or, if his case comes under paragraph 1 of

Article 25, to that of the Contracting State of which he is a national. The case must be presented within three years from the first

notification of the action resulting in taxation not in accordance with the provisions of the Agreement.

2. The competent authority shall endeavour, if the objection appears to it to be justified and if it is not itself able to arrive at a

satisfactory solution, to resolve the case by mutual agreement with the competent authority of the other Contracting State, with a view to

the avoidance of taxation which is not in accordance with the Agreement. Any agreement reached shall be implemented notwithstanding

any time limits in the domestic law of the Contracting States.

3. The competent authorities of the Contracting States shall endeavour to resolve by mutual agreement any difficulties or doubts

arising as to the interpretation or application of the Agreement. They may also consult together for the elimination of double taxation in

cases not provided for in the Agreement.

4. The competent authorities of the Contracting States may communicate with each other directly, including through a joint

commission consisting of themselves or their representatives, for the purpose of reaching an agreement in the sense of the preceding

paragraphs.

Article 27

EXCHANGE OF INFORMATION

1. The competent authorities of the Contracting States shall exchange such information (including documents or authenticated

copies of the documents) as is foreseeably relevant for carrying out the provisions of this Agreement or to the administration or

enforcement of the domestic laws concerning taxes of every kind and description imposed on behalf of the Contracting States, or of

their political sub-divisions or local authorities, insofar as the taxation thereunder is not contrary to the Agreement. The exchange of

information is not restricted by Articles 1 and 2.

2. Any information received under paragraph 1 by a Contracting State shall be treated as secret in the same manner as

information obtained under the domestic laws of that State and shall be disclosed only to persons or authorities (including courts and

administrative bodies) concerned with the assessment or collection of, the enforcement or prosecution in respect of, the determination

of appeals in relation to the taxes referred to in paragraph 1, or the oversight of the above. Such persons or authorities shall use the

information only for such purposes. They may disclose the information in public court proceedings or in judicial decisions.

Notwithstanding the foregoing, information received by a Contracting State may be used for other purposes when such information may

be used for such other purposes under the laws of both States and the competent authority of the supplying State authorizes such use.

3. In no case shall the provisions of paragraphs 1 and 2 be construed so as to impose on a Contracting State the obligation:

(a)

to carry out administrative measures at variance with the laws and administrative practice of that or of the other

Contracting State;

(b)

to supply information (including documents or authenticated copies of the documents) which is not obtainable under the

laws or in the normal course of the administration of that or of the other Contracting State;

(c)

to supply information which would disclose any trade, business, industrial, commercial or professional secret or trade

process, or information the disclosure of which would be contrary to public policy (ordre public).

4. If information is requested by a Contracting State in accordance with this Article, the other Contracting State shall use its

information gathering measures to obtain the requested information, even though that other State may not need such information for its

own tax purposes. The obligation contained in the preceding sentence is subject to the limitations of paragraph 3 but in no case shall

such limitations be construed to permit a Contracting State to decline to supply information solely because it has no domestic interest in

such information.

5. In no case shall the provisions of paragraph 3 be construed to permit a Contracting State to decline to supply information

solely because the information is held by a bank, other financial institution, nominee or person acting in an agency or a fiduciary

capacity or because it relates to ownership interests in a person.

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Article 28

ASSISTANCE IN THE COLLECTION OF TAXES

1. The Contracting States shall lend assistance to each other in the collection of revenue claims. This assistance is not

restricted by Articles 1 and 2. The competent authorities of the Contracting States may by mutual agreement settle the mode of

application of this Article.

2. The term "revenue claim" as used in this Article means an amount owed in respect of taxes of every kind and description

imposed on behalf of the Contracting States, or of their political sub-divisions or local authorities, insofar as the taxation thereunder is

not contrary to this Agreement or any other instrument to which the Contracting States are parties, as well as interest, administrative

penalties and costs of collection or conservancy related to such amount.

3. When a revenue claim of a Contracting State is enforceable under the laws of that State and is owed by a person who, at that

time, cannot, under the laws of that State, prevent its collection, that revenue claim shall, at the request of the competent authority of

that State, be accepted for purposes of collection by the competent authority of the other Contracting State. That revenue claim shall be

collected by that other State in accordance with the provisions of its laws applicable to the enforcement and collection of its own taxes

as if the revenue claim were a revenue claim of that other State.

4. When a revenue claim of a Contracting State is a claim in respect of which that State may, under its law, take measures of

conservancy with a view to ensure its collection, that revenue claim shall, at the request of the competent authority of that State, be

accepted for purposes of taking measures of conservancy by the competent authority of the other Contracting State. That other State

shall take measures of conservancy in respect of that revenue claim in accordance with the provisions of its laws as if the revenue claim

were a revenue claim of that other State even if, at the time when such measures are applied, the revenue claim is not enforceable in

the first-mentioned State or is owed by a person who has a right to prevent its collection.

5. Notwithstanding the provisions of paragraphs 3 and 4, a revenue claim accepted by a Contracting State for purposes of

paragraph 3 or 4 shall not, in that State, be subject to the time limits or accorded any priority applicable to a revenue claim under the

laws of that State by reason of its nature as such. In addition, a revenue claim accepted by a Contracting State for the purposes of

paragraph 3 or 4 shall not, in that State, have any priority applicable to that revenue claim under the laws of the other Contracting State.

6. Proceedings with respect to the existence, validity or the amount of a revenue claim of a Contracting State shall not be

brought before the courts or administrative bodies of the other Contracting State.

7. Where, at any time after a request has been made by a Contracting State under paragraph 3 or 4 and before the other

Contracting State has collected and remitted the relevant revenue claim to the first-mentioned State, the relevant revenue claim ceases

to be :

(a)

in the case of a request under paragraph 3, a revenue claim of the first-mentioned State that is enforceable under the

laws of that State and is owed by a person who, at that time, cannot, under the laws of that State, prevent its collection,

(b)

in the case of a request under paragraph 4, a revenue claim of the first-mentioned State in respect of which that State

may, under its laws, take measures of conservancy with a view to ensure its collection,

the competent authority of the first-mentioned State shall promptly notify the competent authority of the other State of that fact and, at

the option of the other State, the first-mentioned State shall either suspend or withdraw its request.

8. In no case shall the provisions of this Article be construed so as to impose on a Contracting State the obligation:

(a)

to carry out administrative measures at variance with the laws and administrative practice of that or of the other

Contracting State;

(b)

to carry out measures which would be contrary to public policy (ordre public);

(c)

to provide assistance if the other Contracting State has not pursued all reasonable measures of collection or

conservancy, as the case may be, available under its laws or administrative practice;

(d)

to provide assistance in those cases where the administrative burden for that State is clearly disproportionate to the

benefit to be derived by the other Contracting State.

Article 29

MEMBERS OF DIPLOMATIC MISSIONS AND CONSULAR POSTS

Nothing in this Agreement shall affect the fiscal privileges of members of diplomatic missions or consular posts under the

general rules of international law or under the provisions of special agreements.

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Article 30

LIMITATION OF BENEFITS

1. Benefits of this Agreement shall not be available to a resident of a Contracting State, or with respect to any transaction

undertaken by such a resident, if the main purpose of the creation or existence of such a resident or of the transaction undertaken by

him, was to obtain the benefits under this Agreement that would not otherwise be available.

2. Where by reason of the provisions of paragraph 1 a resident of a Contracting State is denied the benefits of this Agreement in

the other Contracting State, the competent authority of the other Contracting State shall notify the competent authority of the first-

mentioned Contracting State.

Article 31

ENTRY INTO FORCE

1. The Governments of the Contracting States 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.

3. The provisions of this Agreement shall have effect:

(a) in India:

(i)

in respect of taxes withheld at source, on income derived on or after the first day of April next following the

calendar year in which the Agreement enters into force;

(ii)

in respect of other taxes on income and taxes on capital, for taxes chargeable for any fiscal year beginning on or

after the first day of April next following the calendar year in which the Agreement enters into force;

(b) in Lithuania:

(i)

in respect of taxes withheld at source, on income derived on or after the first day of January in the calendar year

next following the year in which the Agreement enters into force;

(ii)

in respect of other taxes on income and taxes on capital, for taxes chargeable for any fiscal year beginning on or

after the first day of January in the calendar year next following the year in which the Agreement enters into force.

Article 32

TERMINATION

This Agreement shall remain in force until terminated by a Contracting State. Either Contracting State may terminate the

Agreement, through diplomatic channels, by giving written 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 Agreement. In such event the Agreement shall cease

to have effect:

(a) in India:

(i)

in respect of taxes withheld at source, on income derived on or after the first day of April next following the

calendar year in which the notice is given;

(ii)

in respect of the other taxes on income and taxes on capital, for taxes chargeable for any fiscal year beginning on

or after the first day of April next following the calendar year in which the notice is given;

(b) in Lithuania:

(i)

in respect of taxes withheld at source, on income derived on or after the first day of January in the calendar year

next following the year in which the notice is given;

(ii)

in respect of the other taxes on income and taxes on capital, for taxes chargeable for any fiscal year beginning on

or after the first day of January in the calendar year next following the year in which the notice is given.

In Witness Whereof the undersigned, duly authorized thereto, have signed this Agreement.

Done in duplicate at New Delhi this 26th day of July, 2011, each in the Hindi, Lithuanian and English languages, all texts being

equally authentic. In the case of divergence of interpretation, the English text shall prevail.

Sd/-

Prakash Chandra,

Petras Simeliunas,

Chairman,

Ambassador,

Central Board of Direct Taxes,

Embassy of Lithuania,

For the Government of the

Republic of India

Republic of Lithuania

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PROTOCOL

At the moment of signing the Agreement between the Government of the Republic of India and the Government of the Republic

of Lithuania for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital, the

undersigned have agreed that the following provisions shall form an integral part of the Agreement:

1. Ad Article 5

It is understood that on the date of this Agreement none of the agreements for the avoidance of double taxation concluded by

Lithuania provide for special provision deeming an insurance enterprise of a Contracting State to have a permanent establishment in the

other Contracting State if it collects premiums or insures risks in the territory of that other State through a dependent agent.

However, if after that date, such special provision is included in any agreement for the avoidance of double taxation concluded

by Lithuania, then, after consultations between the competent authorities of the Contracting States, such provision shall also be

considered for this Agreement.

2. Ad Article 6

Where the ownership of shares or other corporate rights in a company entitles the owner of such shares of corporate rights to

the enjoyment of immovable property held by the company, the income from the direct use, letting, or use in any other form of such right

to the enjoyment may be taxed in the Contracting State in which the immovable property is situated.

3. Ad Article 7 paragraph 3

It is understood that the deductions in respect of the head office expenses as referred to in paragraph 3 of Article 7 shall in no

case be less than those allowable under the Indian Income-tax Act as on the date of entry into force of this Agreement.

No deduction shall be allowed in respect of amounts paid or charged (otherwise than towards reimbursement of actual

expenses) by the permanent establishment to the head office of the enterprise or any of its other offices, by way of:

(i) royalties, fees or other similar payments in return for the use of patents or other rights;

(ii) commission for specific services performed or for management; and

(iii) interest on moneys lent to the permanent establishment except in case of a banking institution.

4. Ad Article 8 paragraph 1

It is understood that:

(i)

profits from the operation of ships or aircraft in international traffic shall include profits from the use, maintenance or rental of

containers (including trailers and related equipment for the transportation of containers) used for the transportation of goods

or merchandise in international traffic, where such kind of activities are supplementary or incidental to the operation of ships

or aircraft by the enterprise in international traffic, unless the containers are used solely within the other Contracting State;

(ii) interest on funds directly connected with the operation of ships or aircraft in international traffic shall be regarded as profits

from the operation of such ships or aircraft if they are integral to the carrying on of such business, and the provisions of

Article 11 shall not apply in relation to such interest.

Done in duplicate at New Delhi this 26th day of July, 2011, each in the Hindi, Lithuanian and English languages, all texts being

equally authentic. In the case of divergence of interpretation, the English text shall prevail.

Sd/-

Prakash Chandra,

Petras Simeliunas,

Chairman,

Ambassador,

Central Board of Direct Taxes,

Embassy of Lithuania,

For the Government of the

Republic of India

Republic of Lithuania

[Notification No. 28/2012/F.No. 503/02/1997-FTD-I]

Sanjay Kumar Mishra, Jt. Secy. (FT & TR-1)

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MINSITRY OF FINANCE

(DEPARTMENT OF REVENUE)

(CENTRAL BOARD OF EXCISE AND CUSTOMS)

New Delhi the, 18^th June, 2012

Notification No. 27 /2012-CE (N.T.)

G. S. R 461-(E).- In exercise of the powers conferred by rule 5 of the CENVAT Credit Rules, 2004 (hereinafter referred to as

the “said rules”), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue),

No 5/2006 – Central Excise (N.T), dated the 14^th March, 2006, published in Gazette of India, Extraordinary, Part II, Section 3, Sub-

section (i) vide number G.S.R 156(E), dated the 14^th March, 2006, the Central Board of Excise and Customs hereby directs that refund

of CENVAT credit shall be allowed subject to the procedure, safeguards, conditions and limitations as specified below, namely:-.

2.0 Safeguards, conditions and limitations.- Refund of CENVAT Credit under rule 5 of the said rules, shall be subjected to

the following safeguards, conditions and limitations, namely:-

(a) the manufacturer or provider of output service shall submit not more than one claim of refund under this rule

for every quarter:

provided that a person exporting goods and service simultaneously, may submit two refund claims one in

respect of goods exported and other in respect of the export of services every quarter.

(b) in this notification quarter means a period of three consecutive months with the first quarter beginning from 1^st

April of every year, second quarter from 1^st July, third quarter from 1^st October and fourth quarter from 1^st

January of every year.

exporter for exports during the quarter as per the monthly or quarterly return filed by the claimant.

(d) the total value of goods cleared during the quarter shall be the sum total of value of all goods cleared by the

claimant during the quarter as per the monthly or quarterly return filed by the claimant.

(e) in respect of the services, for the purpose of computation of total turnover, the value of export services shall

be determined in accordance with clause (D) of sub-rule (1) of rule 5 of the said rules.

(f)

for the value of all services other than export during the quarter, the time of provision of services shall be

determined as per the provisions of the Point of Taxation Rules, 2011.

(g) the amount of refund claimed shall not be more than the amount lying in balance at the end of quarter for

which refund claim is being made or at the time of filing of the refund claim, whichever is less.

(h) the amount that is claimed as refund under rule 5 of the said rules shall be debited by the claimant from his

CENVAT credit account at the time of making the claim.

(i)

In case the amount of refund sanctioned is less than the amount of refund claimed, then the claimant may

take back the credit of the difference between the amount claimed and amount sanctioned.

Procedure for filing the refund claim. -

(a) The manufacturer or provider of output service, as the case may be, shall submit an application in Form A

annexed to the notification, to the Assistant Commissioner of Central Excise or Deputy Commissioner of

Central Excise, as the case may be, in whose jurisdiction,-

(i)

the factory from which the final products are exported is situated.

(ii)

the registered premises of the provider of service from which output services are exported is

situated.

(b) The application in the Form A along with the documents specified therein and enclosures relating to the

quarter for which refund is being claimed shall be filed by the claimant, before the expiry of the period

specified in section 11B of the Central Excise Act, 1944 (1 of 1944).

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(i)

the individual or the proprietor in the case of proprietary firm or karta in case of Hindu Undivided

Family as the case may be;

(ii)

any partner in case of a partnership firm;

(iii)

a person authorized by the Board of Directors in case of a limited company;

(iv)

in other cases, a person authorized to sign the refund application by the entity.

(d) The applicant shall file the refund claim along with the copies of bank realization certificate in respect of

the services exported.

(e) The refund claim shall be accompanied by a certificate in Annexure A-I, duly signed by the auditor

(statutory or any other) certifying the correctness of refund claimed in respect of export of services.

(f)

The Assistant Commissioner or Deputy Commissioner to whom the application for refund is made may call

for any document in case he has reason to believe that information provided in the refund claim is incorrect

or insufficient and further enquiry needs to be caused before the sanction of refund claim.

(g) At the time of sanctioning the refund claim the Assistant Commissioner or Deputy Commissioner shall

satisfy himself or herself in respect of the correctness of the claim and the fact that goods cleared for

export or services provided have actually been exported and allow the claim of exporter of goods or

services in full or part as the case may be.

[F No 268/07/2012-CX.8]

Madan Mohan, Under Secretary

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MINISTRY OF FINANCE

(DEPARTMENT OF REVENUE)

NOTIFICATION

New Delhi the, 25^th July, 2012

(INCOME-TAX)

S.O.1677(E)-Whereas an Agreement and the Protocol between the Government of the Republic of India and the Government of

the Republic of Estonia for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income

was signed at Tallinn, Estonia, on 19th day of September, 2011;

And whereas, the date of entry into force of the said Agreement is the 20th day of June, 2012, being the date of the 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 30 of the said Agreement;

And whereas, sub-paragraph (a) of paragraph 3 of Article 30 of the said Agreement provides that the provisions of the said

Agreement shall have effect in India in respect of income derived in any fiscal year beginning on or after the first day of April next

following the calendar year in which the Agreement enters into force;

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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 said Agreement, as set out in the Annexure hereto, shall be given effect to in

the Union of India with effect from 1st day of April, 2013.

Agreement Between the Republic of India and the Republic of Estonia for the Avoidance of Double Taxation and the

Prevention of Fiscal Evasion with respect to Taxes on income

The Republic of India and the Republic of Estonia, desiring to conclude an Agreement for the avoidance of double taxation

and the prevention of fiscal evasion with respect to taxes on income and with a view to promoting economic cooperation between the

two countries, have agreed as follows:

Article 1 : PERSONS COVERED –

This Agreement shall apply to persons who are residents of one or both of the Contracting States.

Article 2 : TAXES COVERED –

1. This Agreement shall apply to taxes on income imposed on behalf of a Contracting State or of its political sub-divisions or

local authorities, irrespective of the manner in which they are levied.

2. There shall be regarded as taxes on income all taxes imposed on total income, or on elements of income, including taxes

on gains from the alienation of movable or immovable property and taxes on the total amounts of wages or salaries paid by enterprises.

3. The existing taxes to which the Agreement shall apply are in particular:

(a) in India, the income tax, including any surcharge thereon; (hereinafter referred to as "Indian tax");

(b) in Estonia, the income tax; (hereinafter referred to as "Estonian tax").

4. The Agreement shall apply also to any identical or substantially similar taxes that are imposed after the date of signature of

the Agreement in addition to, or in place of, the existing taxes. The competent authorities of the Contracting States shall notify each

other of any significant changes that have been made in their respective taxation laws.

Article 3 : GENERAL DEFINITIONS –

1. For the purposes of this Agreement, unless the context otherwise requires:

(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 rights, other rights and jurisdiction, according to the Indian law

and in accordance with international law, including the U.N. Convention on the Law of the Sea;

(b) the term "Estonia" means the Republic of Estonia and, when used in the geographical sense, means the territory of

Estonia and any other area adjacent to the territorial waters of Estonia within which, under the laws of Estonia and

in accordance with international law, the rights of Estonia may be exercised with respect to the sea bed and its sub-

soil and their natural resources;

Estonia as the context requires;

(d) 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 States;

(e) the term "company" means any body corporate or any entity that is treated as a body corporate for tax purposes;

(f) the term " enterprise" applies to the carrying on of any business;

(g) the terms "enterprise of a Contracting State" and "enterprise of the other Contracting State" mean respectively an

enterprise carried on by a resident of a Contracting State and an enterprise carried on by a resident of the other

Contracting State;

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(h) the term "international traffic" means any transport by a ship or aircraft operated by an enterprise of a Contracting

State, except when the ship or aircraft is operated solely between places in the other Contracting State;

(i) the term "competent authority" means:

(i) in India, the Finance Minister, Government of India, or its authorized representative;

(ii) in Estonia, the Minister of Finance or his authorized representative;

(j) the term "national" means:

(i) any individual possessing the nationality of a Contracting State;

(ii) any legal person, partnership or association deriving its status as such from the laws in force in a Contracting

State;

(k) the term "tax" means Indian or Estonian tax, as the context requires, but shall not include any amount which is

payable in respect of any default or omission in relation to the taxes to which this Agreement applies or which

represents a penalty or fine imposed relating to those taxes;

(l) the term "fiscal year" means:

(i) in the case of India, the financial year beginning on the 1st day of April;

(ii) in the case of Estonia, the taxation period as defined in the Estonian taxation laws relating to income tax.

2. As regards the application of the Agreement at any time by a Contracting State, any term not defined therein shall, unless

the context otherwise requires, have the meaning that it has at that time under the law of that State for the purposes of the taxes to

which the Agreement applies. Any meaning under the applicable tax laws of that State prevails over a meaning given to the term under

other laws of that State.

Article 4 : RESIDENT

1. For the purposes of this Agreement, the term "resident of a Contracting State" means any person who, under the laws of

that State, is liable to tax therein by reason of his domicile, residence, place of management, place of incorporation or any other criterion

of a similar nature, and also includes that State and any political sub-division or local authority thereof. This term, however, does not

include any person who is liable to tax in that State in respect only of income from sources in that State.

2. Where by reason of the provisions of paragraph 1 an individual is a resident of both Contracting States, then his status

shall be determined as follows:

(a) he shall be deemed to be a resident only of the State in which he has a permanent home available to him; if he has

a permanent home available to him in both States, he shall be deemed to be a resident only of the State with which

his personal and economic relations are closer (centre of vital interests);

(b) if the State in which he has his centre of vital interests cannot be determined, or if he has not a permanent home

available to him in either State, he shall be deemed to be a resident only of the State in which he has an habitual

abode;

State of which he is a national;

(d) if he is a national of both States or of neither of them, the competent authorities of the Contracting States shall

settle the question by mutual agreement.

3. Where by reason of the provisions of paragraph 1, a person other than an individual is a resident of both Contracting

States, then the competent authorities of the Contracting States, then the competent authorities of the Contracting States shall

endeavour to resolve the case by mutual agreement due regard being had to its place of effective management or to any other relevant

criterion. In the absence of such agreement, such person shall not be considered to be a resident of either Contracting State for the

purposes of enjoying benefits under the Agreement.

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Article 5 : PERMANENT ESTABLISHMENT

1. For the purposes of this Agreement, the term "permanent establishment" means a fixed place of business through which

the business of an enterprise is wholly or partly carried on.

2. The term "permanent establishment" includes especially:

(a) a place of management;

(b) a branch;

(d) a factory;

(e) a workshop;

(f) a sales outlet;

(g) a warehouse in relation to a person providing storage facilities for others;

(h) a farm, plantation or other place where agricultural, forestry, plantation or related activities are carried on; and

(i) a mine, an oil or gas well, a quarry or any other place of extraction of natural resources.

3. (a)

A building site or construction, installation or assembly project or supervisory activities in connection therewith

constitutes a permanent establishment only if such site, project or activities lasts more than nine months.

(b) The furnishing of services, including consultancy services, by an enterprise through employees or other personnel

engaged by the enterprise for such purpose, constitutes a permanent establishment but only where activities of that

nature continue (for the same or connected project) within the country for a period or periods aggregating more than

six months within any 12-month period.

4. Notwithstanding the preceding provisions of this Article the term "permanent establishment" shall be deemed not to include;

(a) the use of facilities solely for the purpose of storage or display of goods or merchandise belonging to the enterprise;

(b) the maintenance of a stock of goods or merchandise belonging to the enterprise solely for the purpose of storage or

display;

by another enterprise;

(d) the maintenance of a fixed place of business solely for the purpose of purchasing goods or merchandise or of

collecting information, for the enterprise;

(e) the maintenance of a fixed place of business solely for the purpose of carrying on, for the enterprise, any other activity

of a preparatory or auxiliary character;

(f) the maintenance of a fixed place of business solely for any combination of activities mentioned in sub-paragraphs (a)

to (e), provided that the overall activity of the fixed place of business resulting from this combination is of a preparatory

or auxiliary character.

5. Notwithstanding the provisions of paragraphs 1 and 2, where a person - other than an agent of an independent status to

whom paragraph 6 applies - is acting in a Contracting State on behalf of an enterprise of the other Contracting State, that enterprise

shall be deemed to have a permanent establishment in the first-mentioned Contracting State in respect of any activities which that

person undertakes for the enterprise, if such a person:

(a) has and habitually exercises in that State an authority to conclude contracts in the name of the enterprise, unless the

activities of such person are limited to those mentioned in paragraph 4 which, if exercised through a fixed place of

business, would not make this fixed place of business a permanent establishment under the provisions of that

paragraph; or

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(b) has no such authority, but habitually maintains in the first-mentioned State a stock of goods or merchandise from

which he regularly delivers goods or merchandise on behalf of the enterprise; or

6. An enterprise shall not be deemed to have a permanent establishment in a Contracting State merely because it carries on

business in that State through a broker, general commission agent or any other agent of an independent status, provided that such

persons are acting in the ordinary course of their business. However, when the activities of such an agent are devoted wholly or almost

wholly on behalf of that enterprise, he will not be considered an agent of an independent status within the meaning of this paragraph.

7. The fact that a company which is a resident of a Contracting State controls or is controlled by a company which is a

resident of the other Contracting State, or which carries on business in that other State (whether through a permanent establishment or

otherwise), shall not of itself constitute either company a permanent establishment of the other.

Article 6 : INCOME FROM IMMOVABLE PROPERTY

1. Income derived by a resident of a Contracting State from immovable property (including income from agriculture or

forestry) situated in the other Contracting State may be taxed in that other State.

2. The term "immovable property" shall have the meaning, which it has under the law of the Contracting State in which the

property in question is situated. The term shall in any case include property accessory to immovable property, any rights of claim in

respect of immovable property, livestock and equipment used in agriculture and forestry, rights to which the provisions of general law

respecting landed property apply, usufruct of immovable property and rights to variable or fixed payments as consideration for the

working of, or the right to work, mineral deposits, sources and other natural resources; ships, boats and aircraft shall not be regarded as

immovable property.

3. The provisions of paragraph 1 shall apply to income derived from the direct use, letting, or use in any other form of

immovable property.

4. The provisions of paragraphs 1 and 3 shall also apply to the income from immovable property of an enterprise and to

income from immovable property used for the performance of independent personal services.

Article 7 : BUSINESS PROFITS : -

1. The profits of an enterprise of a Contracting State shall be taxable only in that State unless the enterprise carries on

business in the other Contracting State through a permanent establishment situated therein. If the enterprise carries on business as

aforesaid, the profits of the enterprise may be taxed in the other State but only so much of them as is attributable to that permanent

establishment.

2. Subject to the provisions of paragraph 3, where an enterprise of a Contracting State carries on business in the other

Contracting State through a permanent establishment situated therein, there shall in each Contracting State be attributed to that

permanent establishment the profits which it might be expected to make if it were a distinct and separate enterprise engaged in the

same or similar activities under the same or similar conditions and dealing wholly independently with the enterprise of which it is a

permanent establishment.

3. In determining the profits of a permanent establishment, there shall be allowed as deductions expenses which are incurred

for the purposes of the permanent establishment, including executive and general administrative expenses so incurred, whether in the

State in which the permanent establishment is situated or elsewhere. The expenses to be allowed as deductions by a Contracting State

shall include only the expenses that are deductible under the domestic laws of that State. However, no such deduction shall be allowed

in respect of amounts, if any, paid (otherwise than towards reimbursement of actual expenses) by the permanent establishment to the

head office of the enterprise or any of its other offices, by way of royalties, fees or other similar payments in return for the use of patents,

know-how or other rights, or by way of commission or other charges for specific services performed or for management, or, except in

the case of banking enterprises, by way of interest on moneys lent to the permanent establishment. Likewise, no account shall be taken,

in the determination of the profits of a permanent establishment, for amounts charged (otherwise than towards reimbursement of actual

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expenses), by the permanent establishment to the head office of the enterprise or any of its other offices, by way of royalties, fees or

other similar payments in return for the use of patents, know-how or other rights, or by way of commission or other charges for specific

services performed or for management, or, except in the case of a banking enterprise, by way of interest on moneys lent to the head

office of the enterprise or any of its other offices.

4. Insofar as it has been customary in a Contracting State to determine the profits to be attributed to a permanent

establishment on the basis of an apportionment of the total profits of the enterprise to its various parts, nothing in paragraph 2 shall

preclude that Contracting State from determining the profits to be taxed by such an apportionment as may be customary; the method of

apportionment adopted shall, however, be such that the result shall be in accordance with the principles contained in this Article.

5. No profits shall be attributed to a permanent establishment by reason of the mere purchase by that permanent

establishment of goods or merchandise for the enterprise.

6. For the purposes of the preceding paragraphs, the profits to be attributed to the permanent establishment shall be

determined by the same method year by year unless there is good and sufficient reason to the contrary.

7. Where profits include items of income which are dealt with separately in other Articles of this Agreement, then the

provisions of those Articles shall not be affected by the provisions of this Article.

Article 8 : SHIPPING AND AIR TRANSPORT

1. Profits derived by an enterprise of a Contracting State from the operation of ships or aircraft in international traffic shall be

taxable only in that State.

2. Profits derived by a transportation enterprise which is a resident of a Contracting State from the use, maintenance, or rental

of containers (including trailers and other equipment for the transport of containers) used for the transport of goods or merchandise in

international traffic shall be taxable only in that Contracting State unless the containers are used solely within the other Contracting

State.

3. For the purposes of this Article interest on investments directly connected with the operation of ships or aircraft in

international traffic shall be regarded as profits derived from the operation of such ships or aircraft if they are integral to the carrying on

of such business, and the provisions of Article 11 shall not apply in relation to such interest.

4. The provisions of paragraph 1 shall also apply to profits from the participation in a pool, a joint business or an international

operating agency.

Article 9 : ASSOCIATED ENTERPRISES - 1. Where -

(a) an enterprise of a Contracting State participates directly or indirectly in the management, control or capital of an

enterprise of the other Contracting State, or

(b) the same persons participate directly or indirectly in the management, control or capital of an enterprise of a

Contracting State and an enterprise of the other Contracting State,

and in either case conditions are made or imposed between the two enterprises in their commercial or financial relations which differ

from those which would be made between independent enterprises, then any profits which would, but for those conditions, have

accrued to one of the enterprises, but, by reason of those conditions, have not so accrued, may be included in the profits of that

enterprise and taxed accordingly.

2. Where a Contracting State includes in the profits of an enterprise of the State - and taxes accordingly - profits on which an

enterprise of the other Contracting State has been charged to tax in that other State and the profits so included are profits which would

have accrued to the enterprise of the first-mentioned State if the conditions made between the two enterprises had been those which

would have been made between independent enterprises, then that other State shall make an appropriate adjustment to the amount of

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the tax charged therein on those profits. In determining such adjustment, due regard shall be had to the other provisions of this

Agreement and the competent authorities of the Contracting States shall if necessary consult each other.

Article 10 : DIVIDENDS –

1. Dividends paid by a company which is a resident of a Contracting State to a resident of the other Contracting State may be

taxed in that other State.

2. However, such dividends may also be taxed in the Contracting State of which the company paying the dividends is a

resident and according to the laws of that State, but if the beneficial owner of the dividends is a resident of the other Contracting State,

the tax so charged shall not exceed 10 per cent of the gross amount of the dividends. This paragraph shall not affect the taxation of the

company in respect of the profits out of which the dividends are paid.

3. The term "dividends" as used in this Article means income from shares or other rights, not being debt-claims, participating

in profits, as well as income which is subjected to the same taxation treatment as income from shares by the laws of the State of which

the company making the distribution is a resident.

4. The provisions of paragraphs 1 and 2 shall not apply if the beneficial owner of the dividends, being a resident of a

Contracting State, carries on business in the other Contracting State of which the company paying the dividends is a resident, through a

permanent establishment situated therein, or performs in that other State independent personal services from a fixed base situated

therein, and the holding in respect of which the dividends are paid is effectively connected with such permanent establishment or fixed

base. In such case the provisions of Article 7 or Article 14, as the case may be, shall apply.

5. Where a company which is a resident of a Contracting State derives profits or income from the other Contracting State,

that other State may not impose any tax on the dividends paid by the company, except insofar as such dividends are paid to a resident

of that other State or insofar as the holding in respect of which the dividends are paid is effectively connected with a permanent

establishment or a fixed base situated in that other State, nor subject the company's undistributed profits to a tax on the company's

undistributed profits, even if the dividends paid or the undistributed profits consist wholly or partly of profits or income arising in such

other State.

Article 11 : INTEREST

1. Interest arising in a Contracting State and paid to a resident of the other Contracting State may be taxed in that other

State.

2. However, such interest may also be taxed in the Contracting State in which it arises, and according to the laws of that

State, but if the beneficial owner of the interest is a resident of the other Contracting State, the tax so charged shall not exceed 10 per

cent of the gross amount of the interest.

3. Notwithstanding the provisions of paragraph 2, interest arising in a Contracting State shall be exempt from tax in that

State, provided that it is derived and beneficially owned by:

(a) the Government, a political sub-division or a local authority of the other Contracting State; or

(b) (i) in the case of India, the Reserve Bank of India; and

(ii) in the case of Estonia, the Bank of Estonia; or

States through exchange of letters.

4. The term "interest" as used in this Article means income from debt-claims of every kind, whether or not secured by

mortgage and whether or not carrying a right to participate in the debtor's profits, and in particular, income from government securities

and income from bonds or debentures, including premiums and prizes attaching to such securities, bonds or debentures. The term

"interest" shall not include any income, which is treated as a dividend under the provisions of Article 10. Penalty charges for late

payment shall not be regarded as interest for the purpose of this Article.

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5. The provisions of paragraphs 1 and 2 shall not apply if the beneficial owner of the interest, being a resident of a Contracting

State, carries on business in the other Contracting State in which the interest arises, through a permanent establishment situated

therein, or performs in that other State independent personal services from a fixed base situated therein, and the debt-claim in respect

of which the interest is paid is effectively connected with such permanent establishment or fixed base. In such case the provisions of

Article 7 or Article 14, as the case may be shall apply.

6. Interest shall be deemed to arise in a Contracting State when the payer is a resident of that State. Where, however, the

person paying the interest, whether he is a resident of a Contracting State or not, has in a Contracting State a permanent establishment

or a fixed base in connection with which the indebtedness on which the interest is paid was incurred, and such interest is borne by such

permanent establishment or fixed base, then such interest shall be deemed to arise in the State in which the permanent establishment

or fixed base is situated.

7. Where, by reason of a special relationship between the payer and the beneficial owner or between both of them and some

other person, the amount of the interest, having regard to the debt-claim for which it is paid, exceeds the amount which would have

been agreed upon by the payer and the beneficial owner in the absence of such relationship, the provisions of this Article shall apply

only to the last-mentioned amount. In such case, the excess part of the payments shall remain taxable according to the laws of each

Contracting State, due regard being had to the other provisions of this Agreement.

Article 12 : ROYALTIES AND FEES FOR TECHNICAL SERVICES

1. Royalties or fees for technical services arising in a Contracting State and paid to a resident of the other Contracting State

may be taxed in that other State.

2. However, such royalties or fees for technical services may also be taxed in the Contracting State in which they arise, and

according to the laws of that State, but if the beneficial owner of the royalties or fees for technical services is a resident of the other

Contracting State the tax so charged shall not exceed 10 per cent of the gross amount of the royalties or fees for technical services.

3. (a) The term "royalties" as used in this Article means payments of any kind received as a consideration for the use of, or the

right to use, any copyright of literary, artistic or scientific work including cinematograph films or films or tapes used for television or radio

broadcasting, any patent, trade mark, design or model, plan, secret formula or process, or for the use of, or the right to use, industrial,

commercial or scientific equipment, or for information concerning industrial, commercial or scientific experience.

(b) The term "fees for technical services" as used in this Article means payments of any kind, other than those mentioned in

Articles 14 and 15 of this Agreement as consideration for managerial or technical or consultancy services, including the provision of

services of technical or other personnel.

4. The provisions of paragraphs 1 and 2 shall not apply if the beneficial owner of the royalties, or fees for technical services

being a resident of a Contracting State, carries on business in the other Contracting State in which the royalties or fees for technical

services arise, through a permanent establishment situated therein, or performs in that other State independent personal services from

a fixed base situated therein, and the right or property in respect of which the royalties or fees for technical services are paid is

effectively connected with such permanent establishment or fixed base. In such case the provisions of Article 7 or Article 14, as

the case may be, shall apply.

5. (a) Royalties and fees for technical services shall be deemed to arise in a Contracting State when the payer is that State

itself, a political sub-division, a local authority, or a resident of that State. Where, however, the person paying the

royalties or fees for technical services, whether he is a resident of a Contracting State or not, has in a Contracting

State a permanent establishment or a fixed base in connection with which the liability to pay the royalties or fees for

technical services was incurred, and such royalties or fees for technical services are borne by such permanent

establishment or fixed base, then such royalties or fees for technical services shall be deemed to arise in the

Contracting State in which the permanent establishment or fixed base is situated.

(b) Where under sub-paragraph (a) royalties or fees for technical services do not arise in one of the Contracting States,

and the royalties relate to the use of, or the right to use, the right or property, or the fees for technical services relate to

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services performed, in one of the Contracting States, the royalties or fees for technical services shall be deemed to

arise in that Contracting State.

6. Where, by reason of a special relationship between the payer and the beneficial owner or between both of them and some

other person, the amount of the royalties or fees for technical services, having regard to the use, right or information for which they are

paid, exceeds the amount which would have been agreed upon by the payer and the beneficial owner in the absence of such

relationship, the provisions of this Article shall apply only to the last-mentioned amount. In such case, the excess part of the payments

shall remain taxable according to the laws of each Contracting State, due regard being had to the other provisions of this Agreement.

Article 13 : CAPITAL GAINS

1. Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 and

situated in the other Contracting State may be taxed in that other State.

2. Gains derived by a resident of a Contracting State from the alienation of shares deriving more than 50 per cent of their

value directly or indirectly from immovable property situated in the other Contracting State may be taxed in that other State.

3. Gains from the alienation of movable property forming part of the business property of a permanent establishment which an

enterprise of a Contracting State has in the other Contracting State or of movable property pertaining to a fixed base available to a

resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including

such gains from the alienation of such a permanent establishment (alone or with the whole enterprise) or of such fixed base, may be

taxed in that other State.

4. Gains derived by an enterprise of a Contracting State operating ships or aircraft in international traffic from the alienation of

ships or aircraft operated in international traffic, or movable property pertaining to the operation of such ships or aircraft shall be taxable

only in that Contracting State.

5. Gains from the alienation of shares other than those mentioned in paragraph 2 in a company which is a resident of a

Contracting State may be taxed in that State.

6. Gains from the alienation of any property other than that referred to in the preceding paragraphs shall be taxable only in the

Contracting State of which the alienator is a resident.

Article 14 : INDEPENDENT PERSONAL SERVICES

1. Income derived by an individual who is a resident of a Contracting State from the performance of professional services or

other independent activities of a similar character shall be taxable only in that State except in the following circumstances when such

income may also be taxed in the other Contracting State:

(a) if he has a fixed base regularly available to him in the other Contracting State for the purpose of performing his

activities; in that case, only so much of the income as is attributable to that fixed base may be taxed in that other

State; or

(b) if his stay in the other Contracting State is for a period or periods amounting to or exceeding in the aggregate 183

days in any period of 12 months; in that case, only so much of the income as is derived from his activities performed in

that other State may be taxed in that other State.

2. The term "professional services" includes especially independent scientific, literary, artistic, educational or teaching

activities as well as the independent activities of physicians, lawyers, engineers, architects, surgeons, dentists and accountants.

Article 15 : DEPENDENT PERSONAL SERVICES

1. Subject to the provisions of Articles 16, 18, 19, 20 and 21, salaries, wages and other similar remuneration derived by a

resident of a Contracting State in respect of an employment shall be taxable only in that State unless the employment is exercised in the

other Contracting State. If the employment is so exercised, such remuneration as is derived therefrom may be taxed in that other State.

2. Notwithstanding the provisions of paragraph 1, remuneration derived by a resident of a Contracting State in respect of an

employment exercised in the other Contracting State shall be taxable only in the first-mentioned State if:

(a) the recipient is present in the other State for a period or periods not exceeding in the aggregate 183 days in any

twelve month period commencing or ending in the fiscal year concerned, and

(b) the remuneration is paid by, or on behalf of, an employer who is not a resident of the other State, and

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State.

3. Notwithstanding the preceding provisions of this Article, remuneration derived in respect of an employment exercised

aboard a ship or aircraft operated in international traffic, by an enterprise of a Contracting State may be taxed in that State.

Article 16 : DIRECTORS' FEES –

1. Directors' fees and other similar payments derived by a resident of a Contracting State in his capacity as a member of the

board of directors or any other similar organ of a company which is a resident of the other Contracting State may be taxed in that other

State.

Article 17 : ARTISTES AND SPORTSPERSONS

1. Notwithstanding the provisions of Articles 7, 14 and 15, income derived by a resident of a Contracting State as an

entertainer, such as a theatre, motion picture, radio or television artiste, or a musician, or as a sportsperson, from personal activities as

such exercised in the other Contracting State, may be taxed in that other State.

2. Where income in respect of personal activities exercised by an entertainer or a sportsperson in his capacity as such

accrues not to the entertainer or sportsperson himself but to another person, that income may, notwithstanding the provisions of Articles

7, 14 and 15, be taxed in the Contracting State in which the activities of the entertainer or sportsperson are exercised.

3. The provisions of paragraphs 1 and 2, shall not apply to income derived from activities performed in a Contracting State by

entertainers or sportspersons if the visit to that State is substantially supported by public funds of one or both of the Contracting States

or of political sub-divisions or local authorities thereof. In such a case, the income shall be taxable only in the Contracting State of which

the individual entertainer or sportsperson is a resident.

Article 18 : PENSIONS

Subject to the provisions of paragraph 2 of Article 19, pensions and other similar remuneration paid to a resident of a

Contracting State in consideration of past employment shall be taxable only in that State.

Article 19 : GOVERNMENT SERVICE

1. (a) Salaries, wages and other similar remuneration, other than a pension, paid by a Contracting State or a political sub-

division or a local authority thereof to an individual in respect of services rendered to that State or sub-division or authority shall be

taxable only in that State.

(b) However, such salaries, wages and other similar remuneration shall be taxable only in the other Contracting State if

the services are rendered in that State and the individual is a resident of that State who:

(i)

is a national of that State; or

(ii) did not become a resident of that State solely for the purpose of rendering the services.

2. (a) Any pension paid by, or out of funds created by, a Contracting State or a political sub-division or a local authority thereof

to an individual in respect of services rendered to that State or sub-division or authority shall be taxable only in that State.

(b) However, such pension shall be taxable only in the other Contracting State if the individual is a resident of, and a

national of, that State.

3. The provisions of Articles 15, 16, 17 and 18 shall apply to salaries, wages and other similar remuneration and to pensions

in respect of services rendered in connection with a business carried on by a Contracting State or a political sub-division or a local

authority thereof.

Article 20 : PROFESSORS, TEACHERS AND RESEARCH SCHOLARS

1. An individual who visits one of the Contracting States for the purpose of teaching or carrying out research at a university,

college or educational institution recognized by that State, and who immediately before that visit was a resident of that other Contracting

State, shall be taxable only in that other State on any remuneration for such teaching or research. However, this paragraph shall apply

only for a period not exceeding two years from the date the individual first visits the first mentioned State.

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2. This Article shall apply to income from research only if such research is undertaken by the individual in the public interest

and not primarily for the benefit of some private person or persons.

3. For the purposes of this Article, an individual shall be deemed to be a resident of a Contracting State if he is resident in that

State in the fiscal year in which he visits the other Contracting State or in the immediately preceding fiscal year.

Article 21 : STUDENTS

1. A student who is or was a resident of one of the Contracting States immediately before visiting the other Contracting State

and who is present in that other Contracting State solely for the purpose of his education or training, shall besides grants, loans and

scholarships be exempt from tax in that other State on payments made to him for the purpose of his maintenance, education or training,

provided that such payments arise from sources outside that State.

2. In respect of grants, scholarship and remuneration from employment not covered by paragraph 1, a student referred to

paragraph 1 shall, in addition, be entitled during such education or training to the same exemptions, reliefs or reductions in respect of

taxes available to residents of the Contracting State which he is visiting.

3. The benefits of this Article shall extend only for such period of time as may be reasonable or customarily required to

complete the education or training undertaken, but in no event shall any individual have the benefits of this Article, for more than five

consecutive years from the date of his first arrival in that other State.

Article 22 : OTHER INCOME

1. Items of income of a resident of a Contracting State, wherever arising, not dealt with in the foregoing Articles of this

Agreement shall be taxable only in that State.

2. The provisions of paragraph 1 shall not apply to income, other than income from immovable property as defined in

paragraph 2 of Article 6, if the recipient of such income, being a resident of a Contracting State, carries on business in the other

Contracting State through a permanent establishment situated therein, or performs in that other State independent personal services

from a fixed base situated therein, and the right or property in respect of which the income is paid is effectively connected with such

permanent establishment or fixed base. In such case the provisions of Article 7 or Article 14, as the case may be, shall apply.

3. Notwithstanding the provisions of paragraph 1, if a resident of a Contracting State derives income from sources within the

other Contracting State in form of lotteries, crossword puzzles, races including horse races, card games and other games of any sort or

gambling or betting of any nature whatsoever, such income may be taxed in the other Contracting State.

Article 23 : METHODS FOR ELIMINATION OF DOUBLE TAXATION

Double taxation shall be eliminated as follows:

1. In India:

(a) Where a resident of India derives income which, in accordance with the provisions of this Agreement, may be taxed in

Estonia, India shall allow as a deduction from the tax on the income of that resident, an amount equal to the tax paid in

Estonia.

Such deduction shall not, however, exceed that portion of the tax as computed before the deduction is given, which is

attributable, as the case may be, to the income which may be taxed in Estonia.

(b) Where in accordance with any provision of the Agreement income derived by a resident of India is exempt from tax in

India, India may nevertheless, in calculating the amount of tax on the remaining income of such resident, take into

account the exempted income.

2. In Estonia:

(a) Where a resident of Estonia derives income which, in accordance with the provisions of this Agreement, has been

taxed in India, Estonia shall, subject to the provisions of sub-paragraphs (b) and (c) exempt such income from tax.

(b) Where a resident of Estonia derives income which in accordance with the provisions of paragraph 2 of Articles 10, 11

and 12 may be taxed in India, Estonia shall allow as a deduction from the tax on the income of that resident an

amount equal to the tax paid in India. Such deduction shall not, however, exceed the part of the tax, as computed

before the deduction is given, which is attributable to such items of income derived from India.

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in Estonia, Estonia may nevertheless, in calculating the amount of tax on the remaining income of such resident, take

into account the exempted income.

Article 24 : NON-DISCRIMINATION

1. Nationals of a Contracting State shall not be subjected in the other Contracting State to any taxation or any requirement

connected therewith, which is other or more burdensome than the taxation and connected requirements to which nationals of that other

State in the same circumstances, in particular with respect to residence, are or may be subjected. This provision shall, notwithstanding

the provisions of Article 1, also apply to persons who are not residents of one or both of the Contracting States.

2. The taxation on a permanent establishment, which an enterprise of a Contracting State has in the other Contracting State,

shall not be less favourably levied in that other State than the taxation levied on enterprises of that other State carrying on the same

activities. This provision shall not be construed as preventing a Contracting State from charging the profits of a permanent

establishment which a company of the other Contracting State has in the first mentioned State at a rate of tax which is not more than ten

percentage points higher than that imposed on the profits of a similar company of the first mentioned Contracting State, nor as being in

conflict with the provisions of paragraph 3 of Article 7.

3. Except where the provisions of paragraph 1 of Article 9, paragraph 7 of Article 11, or paragraph 6 of Article 12, apply,

interest, royalties and other disbursements paid by an enterprise of a Contracting State to a resident of the other Contracting State shall,

for the purpose of determining the taxable profits of such enterprise, be deductible under the same conditions as if they had been paid

to a resident of the first-mentioned State.

4. Enterprises of a Contracting State, the capital of which is wholly or partly owned or controlled, directly or indirectly, by one

or more residents of the other Contracting State, shall not be subjected in the first-mentioned State to any taxation or any requirement

connected therewith which is other or more burdensome than the taxation and connected requirements to which other similar

enterprises of the first-mentioned State are or may be subjected.

5. The provisions of this Article shall not be construed as obliging a Contracting State to grant to residents of the other

Contracting State any personal allowances, reliefs and reductions for taxation purposes on account of civil status or family

responsibilities which it grants to its own residents.

6. The provisions of this Article shall, notwithstanding the provisions of Article 2, apply to taxes of every kind and description.

Article 25 : MUTUAL AGREEMENT PROCEDURE

1. Where a person considers that the actions of one or both of the Contracting States result or will result for him in taxation not

in accordance with the provisions of this Agreement, he may, irrespective of the remedies provided by the domestic law of those States,

present his case to the competent authority of the Contracting State of which he is a resident or, if his case comes under paragraph 1 of

Article 24, to that of the Contracting State of which he is a national. The case must be presented within three years from the first

notification of the action resulting in taxation not in accordance with the provisions of the Agreement.

2. The competent authority shall endeavour, if the objection appears to it to be justified and if it is not itself able to arrive at a

satisfactory solution, to resolve the case by mutual agreement with the competent authority of the other Contracting State, with a view to

the avoidance of taxation which is not in accordance with the Agreement. Any agreement reached shall be implemented notwithstanding

any time limits in the domestic law of the Contracting States.

3. The competent authorities of the Contracting States shall endeavour to resolve by mutual agreement any difficulties or

doubts arising as to the interpretation or application of the Agreement. They may also consult together for the elimination of double

taxation in cases not provided for in the Agreement.

4. The competent authorities of the Contracting States may communicate with each other directly, for the purpose of reaching

an agreement in the sense of the preceding paragraphs. When it seems advisable in order to reach agreement to have an oral

exchange of opinions, such exchange may take place through a Commission consisting of representatives of the competent authorities

of the Contracting States.

Article 26 : EXCHANGE OF INFORMATION

1. The competent authorities of the Contracting States shall exchange such information (including documents or certified

copies of the documents) as is foreseeably relevant for carrying out the provisions of this Agreement or to the administration or

enforcement of the domestic laws concerning taxes of every kind and description imposed on behalf of the Contracting States, or of

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their political sub-divisions or local authorities, insofar as the taxation thereunder is not contrary to the Agreement. The exchange of

information is not restricted by Articles 1 and 2.

2. Any information received under paragraph 1 by a Contracting State shall be treated as secret in the same manner as

information obtained under the domestic laws of that State and shall be disclosed only to persons or authorities (including courts and

administrative bodies) concerned with the assessment or collection of, the enforcement or prosecution in respect of, the determination

of appeals in relation to the taxes referred to in paragraph 1, or the oversight of the above. Such persons or authorities shall use the

information only for such purposes. They may disclose the information in public court proceedings or in judicial decisions.

Notwithstanding the foregoing, information received by a Contracting State may be used for other purposes when such information may

be used for such other purposes under the laws of both States and the competent authority of the supplying State authorises such use.

3. In no case shall the provisions of paragraphs 1 and 2 be construed so as to impose on a Contracting State the obligation:

(a) to carry out administrative measures at variance with the laws and administrative practice of that or of the other

Contracting State;

(b) to supply information which is not obtainable under the laws or in the normal course of the administration of that or of

the other Contracting State;

(c) to supply information which would disclose any trade, business, industrial, commercial or professional secret or trade

process, or information the disclosure of which would be contrary to public policy (ordre public).

4. If information is requested by a Contracting State in accordance with this Article, the other Contracting State shall use its

information gathering measures to obtain the requested information, even though that other State may not need such information for its

own tax purposes. The obligation contained in the preceding sentence is subject to the limitations of paragraph 3 but in no case shall

such limitations be construed to permit a Contracting State to decline to supply information solely because it has no domestic interest in

such information.

5. In no case shall the provisions of paragraph 3 be construed to permit a Contracting State to decline to supply information

solely because the information is held by a bank, other financial institution, nominee or person acting in an agency or a fiduciary

capacity or because it relates to ownership interests in a person.

Article 27 : ASSISTANCE IN THE COLLECTION OF TAXES

1. The Contracting States shall lend assistance to each other in the collection of revenue claims. This assistance is not

restricted by Articles 1 and 2. The competent authorities of the Contracting States may by mutual agreement settle the mode of

application of this Article.

2. The term "revenue claim" as used in this Article means an amount owed in respect of taxes of every kind and description

imposed on behalf of the Contracting States, or of their political sub-divisions or local authorities, insofar as the taxation thereunder is

not contrary to this Agreement or any other instrument to which the Contracting States are parties, as well as interest, administrative

penalties and costs of collection or conservancy related to such amount.

3. When a revenue claim of a Contracting State is enforceable under the laws of that State and is owed by a person who, at

that time, cannot, under the laws of that State, prevent its collection, that revenue claim shall, at the request of the competent authority

of that State, be accepted for purposes of collection by the competent authority of the other Contracting State. That revenue claim shall

be collected by that other State in accordance with the provisions of its laws applicable to the enforcement and collection of its own

taxes as if the revenue claim were a revenue claim of that other State.