The Government of the Republic of India and the Government of the Republic of Austria has amended for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.
The protocol has deleted Article 26 and replaced the same as below:
“ARTICLE 26 Exchange of Information”
The competent authorities of the Contracting States shall exchange such information as is foreseeably relevant for carrying out the provisions of this Convention 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 subdivisions or local authorities thereof, insofar as the taxation thereunder is not contrary to the Convention.
“Article 26A shall be inserted after the new Article 26 of the Convention”:
1. The Contracting States shall lend assistance to each other in the collection of tax to the extent needed to ensure that any exemption or reduced rate of tax granted under this Convention shall not be enjoyed by persons not entitled to such benefits. The competent authorities of the Contracting States may by mutual agreement settle the mode of application of this Article.
2. 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)
The date of entry into force of the said amending Protocol is the 1st May, 2020.
Read full protocol: govt-notifies-provisions-of-protocol-amending-india-austria-dtaa