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SECTION90OFTHEINCOMETAXACT,1961DOUBLETAXATIONAGREEMENT
AGREEMENTFOREXCHANGEOFINFORMATIONWITHRESPECTTOTAXESWITH
MALDIVES

NOTIFICATIONNO.SO2865(E)[NO.76/2016(F.NO.500/79/2008FTDII)],DATED292016

Whereas,anAgreementbetweentheGovernmentoftheRepublicofIndiaand theGovernmentofthe
RepublicofMaldivesfortheExchangeofInformationwithrespecttoTaxes(hereinafterreferredtoas
thesaidAgreement) as set out in theAnnexure to this notification, was signed at New Delhi on the
11thdayofApril,2016
Andwhereas,thesaidAgreemententeredintoforceonthe2nddayofAugust, 2016beingthedateof
the later of the notifications of the completion of the procedures required by the respective laws for
entry into force of the said Agreement, in accordance with paragraph 2 of Article 12 of the said
Agreement
Now,therefore,inexerciseofthepowersconferredbysubsection(1)ofsection90oftheIncometax
Act, 1961 (43 of 1961), the Central Government hereby notifies that all the provisions of said
Agreement, as annexed hereto as Annexure, shall be given effect to in the Union of India, in
accordancewithArticle12ofthesaidAgreement.
ANNEXURE
AGREEMENT
BETWEEN
THEGOVERNMENTOFTHEREPUBLICOFINDIA
AND
THEGOVERNMENTOFTHEREPUBLICOFMALDIVES
FOR
THEEXCHANGEOFINFORMATION
WITHRESPECTTOTAXES
TheGovernmentoftheRepublicofIndiaandtheGovernmentoftheRepublicofMaldives,desiringto
facilitatetheexchangeofinformationwithrespecttotaxeshaveagreedasfollows:

ARTICLE1
ObjectandScopeoftheAgreement
The competent authorities of the Contracting Parties shall provide assistance through exchange of
informationthatisforeseeablyrelevanttotheadministrationandenforcementofthedomesticlawsof
the Contracting Parties concerning taxes covered by thisAgreement. Such information shall include
informationthatisforeseeablyrelevanttothedetermination,assessmentandcollectionofsuchtaxes,
the recovery and enforcement of tax claims, or the investigation or prosecution of tax matters.
Information shall be exchanged in accordance with the provisions of this Agreement and shall be
treated as confidential in the manner provided in Article 8. The rights and safeguards secured to
persons by the laws or administrative practice of the requested Party remain applicable to the extent
thattheydonotundulypreventordelayeffectiveexchangeofinformation.

ARTICLE2
Jurisdiction
ARequestedPartyisnotobligedtoprovideinformationwhichisneitherheldbyitsauthoritiesnorisin

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thepossessionorcontrolofpersonswhoarewithinitsterritorialjurisdiction.

ARTICLE3
TaxesCovered
1.ThetaxeswhicharethesubjectofthisAgreementare:
a in India, taxes of every kind and description imposed by the Central Government or the
Governmentsofpoliticalsubdivisionsorlocalauthorities,irrespectiveofthemannerinwhich
theyarelevied
b inMaldives,taxesofeverykindanddescriptionimposedbytheGovernmentinaccordance
withthelawirrespectiveofthemannerinwhichtheyarelevied
2.ThisAgreementshallalsoapplytoanyidenticalorsubstantiallysimilartaxesimposedafterthedate
of signature of this Agreement in addition to, or in place of, the existing taxes. The competent
authoritiesoftheContractingPartiesshallnotifyeachotherofanysubstantialchangestothetaxation
andrelatedinformationgatheringmeasureswhichmayaffecttheobligationsofthatPartypursuantto
thisAgreement.

ARTICLE4
Definitions
3.ForthepurposesofthisAgreement,unlessotherwisedefined:
a theterm"India"meanstheterritoryofIndiaandincludestheterritorialseaandairspaceabove
it, as well as any other maritime zone in which India has sovereign rights, other rights and
jurisdiction,accordingtotheIndianlawandinaccordancewithinternationallaw,including
theU.N.ConventionontheLawoftheSea
b the term "Maldives" means the territory of the Maldives and includes its territorial sea,
continentalshelf,seabed,subsoil(andtheirnaturalresources)andairspace,aswellasany
maritime zone in which the Maldives has sovereign rights, other rights and jurisdiction,
accordingtothelawoftheMaldivesandinaccordancewithinternationallaw,includingthe
UnitedNationsConventionontheLawoftheSea
c theterm"ContractingParty"meansIndiaorMaldivesasthecontextrequires
d theterm"competentauthority"means
(i) in the case of India, the Finance Minister, Government of India, or his authorized
representative
(ii) in the case of Maldives, the Maldives Inland RevenueAuthority, or its authorized
representative
e theterm"person"includesanindividual,acompany,abodyofpersonsandanyotherentity
whichistreatedasataxableunitunderthetaxationlawsinforceintherespectiveContracting
Parties
f theterm"company"meansanybodycorporateoranyentitythatistreatedasabodycorporate
fortaxpurposes
g the term "publicly traded company" means any company whose principal class of shares is
listedonarecognisedstockexchangeprovideditslistedsharescanbereadilypurchasedor
soldbythepublic.Sharescanbepurchasedorsold"bythepublic"ifthepurchaseorsaleof
sharesisnotimplicitlyorexplicitlyrestrictedtoalimitedgroupofinvestors
h the term "principal class of shares" means the class or classes of shares representing a
majorityofthevotingpowerandvalueofthecompany

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i theterm"recognisedstockexchange"means
(i) inIndia,theNationalStockExchange,theBombayStockExchange,and any other
stockexchangerecognisedbytheSecuritiesandExchangeBoardofIndia
(ii) inMaldives,theMaldivesStockExchangeand
(iii) anyotherstockexchangewhichthecompetentauthoritiesagreetorecogniseforthe
purposesofthisAgreement.
j the term "collective investment fund or scheme" means any pooled investment vehicle,
irrespectiveoflegalform.
k theterm"publiccollectiveinvestmentfundorscheme"meansanycollectiveinvestmentfund
orschemeprovidedtheunits,sharesorotherinterestsinthefundorschemecanbereadily
purchased, sold or redeemed by the public. Units, shares or other interests in the fund or
scheme can be readily purchased, sold or redeemed "by the public" if the purchase, sale or
redemptionisnotimplicitlyorexplicitlyrestrictedtoalimitedgroupofinvestors
l theterm"tax"meansanytaxtowhichthisAgreementapplies
m theterm"requestingParty"meanstheContractingParty
(i) submittingarequestforinformationto,or
(ii) havingreceivedinformationfrom,
therequestedParty.
n theterm"requestedParty"meanstheContractingParty
(i) whichisrequestedtoprovideinformation,or
(ii) whichhasprovidedinformation.
o the term "information gathering measures" means laws and administrative or judicial
proceduresthatenableaContractingPartytoobtainandprovidetherequestedinformation
p theterm"information"meansanyfact,statement,documentorrecordinwhateverform
q theterm"national"means:
(i) anyindividualpossessingthenationalityofaContractingParty
(ii) anylegalperson,partnershiporassociationderivingitsstatusassuchfromthelaws
inforceinaContractingParty.
2. As regards the application of this Agreement at any time by a Contracting Party, any term not
defined therein shall, unless the context otherwise requires or the competent authorities agree to a
commonmeaningpursuanttotheprovisionsofArticle11ofthisAgreement,havethemeaningthatit
hasat that time under the law of that Party, any meaning under the applicable taxlawsofthatParty
prevailingoverameaninggiventothetermunderotherlawsofthatParty.

ARTICLE5
ExchangeofInformationUponRequest
1. The competent authority of the requested Party shall provide upon request information for the
purposesreferredtoinArticle1.Suchinformation shallbeexchangedwithoutregardtowhetherthe
requested Party needs such information for its own tax purposes or whether the conduct being
investigatedwouldconstituteacrimeunderthelawsoftherequestedPartyifsuchconductoccurredin
therequestedParty.
2.IftheinformationinthepossessionofthecompetentauthorityoftherequestedPartyisnotsufficient
to enable it to comply with the request for information, that Party shall use all relevant information

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gathering measures to provide the requesting Party with the information requested, notwithstanding
thattherequestedPartymaynotneedsuchinformationforitsowntaxpurposes.
3.IfspecificallyrequestedbythecompetentauthorityoftherequestingParty,thecompetentauthority
of the requested Party shall provide information under thisArticle, to the extent allowable under its
domesticlaws,intheformofdepositionsofwitnessesandauthenticatedcopiesoforiginalrecords.
4.EachContractingPartyshallensurethatitscompetentauthority,forthepurposesofthisAgreement,
hastheauthoritytoobtainandprovideuponrequest:
a information held by banks, other financial institutions, and any person, including nominees
andtrustees,actinginanagencyorfiduciarycapacity
b information regarding the legal and beneficial ownership of companies, partnerships,
collective investment funds or schemes, trusts, foundations and other persons, including,
withintheconstraintsofArticle2,ownershipinformationonallsuchpersonsinanownership
chaininthecaseofcollectiveinvestmentfundsorschemes,informationonshares,unitsand
otherinterestsinthecaseoftrusts,informationonsettlors,trusteesandbeneficiariesinthe
case of foundations, information on founders, members of the foundation council and
beneficiariesandequivalentinformationincaseofentitiesthatarenotcollectiveinvestment
fundsorschemes,trustsorfoundations.
5. This Agreement does not create an obligation on the Contracting Parties to obtain or provide
ownershipinformationwithrespecttopubliclytradedcompaniesorpubliccollectiveinvestmentfunds
orschemesunlesssuchinformationcanbeobtainedwithoutgivingrisetodisproportionatedifficulties.
6. The competent authority of the requesting Party shall provide the following information to the
competent authority of the requested Party when making a request for information under the
Agreementtodemonstratetheforeseeablerelevanceoftheinformationtotherequest:
a theidentityofthepersonunderexaminationorinvestigation
b theperiodforwhichinformationisrequested
c a statement of the information sought including its nature and the form in which the
requestingPartywishestoreceivetheinformationfromtherequestedParty
d thetaxpurposeforwhichtheinformationissought
e groundsforbelievingthattheinformationrequestedispresentintherequestedPartyorisin
thepossessionorcontrolofapersonwithinthejurisdictionoftherequestedParty
f to the extent known, the name and address of any person believed to be in possession or
controloftherequestedinformation
g astatementthattherequestisinconformitywiththelawsandadministrativepracticesofthe
requestingParty,thatiftherequestedinformationwaswithinthejurisdictionoftherequesting
Party then the competent authority of the requesting Party would be able to obtain the
informationunderthelawsoftherequestingPartyorinthenormalcourseofadministrative
practiceandthatitisinconformitywiththisAgreement
h a statement that the requesting Party has pursued all means available in its own territory to
obtaintheinformation,exceptthosethatwouldgiverisetodisproportionatedifficulties.
7.ThecompetentauthorityoftherequestedPartyshallforwardtherequestedinformationaspromptly
as possible to the requesting Party. To ensure a prompt response, the competent authority of the
requestedPartyshall:
a ConfirmreceiptofarequestinwritingtothecompetentauthorityoftherequestingPartyand
shallnotifythecompetentauthorityoftherequestingPartyofdeficienciesintherequest,if
any,within60daysofthereceiptoftherequest.
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b IfthecompetentauthorityoftherequestedPartyhasbeenunabletoobtain and provide the

information within 90 days of receipt of the request, including if it encounters obstacles in
furnishingtheinformationoritrefusestofurnishtheinformation,itshallimmediatelyinform
therequestingParty,explainingthereasonforitsinability,thenatureoftheobstaclesorthe
reasonsforitsrefusal.

ARTICLE6
TaxExaminationsAbroad
1.At the request of the competent authority of the requesting Party, the requested Party may allow
representativesofthecompetentauthorityoftherequestingPartytoentertheterritoryoftherequested
Party, to the extent permitted under its domestic laws, to interview individuals and examine records
withthepriorwrittenconsentoftheindividualsorotherpersonsconcerned.Thecompetentauthorityof
therequestingPartyshallnotifythecompetentauthorityoftherequestedPartyofthetimeandplaceof
theintendedmeetingwiththeindividualsconcerned.
2.AttherequestofthecompetentauthorityofoneContractingParty,the competent authority of the
other Contracting Party may allow representatives of the competent authority of the firstmentioned
PartytobepresentattheappropriatepartofataxexaminationinthesecondmentionedParty.
3. If the request referred to in paragraph 2 is acceded to, the competent authority of the Contracting
Party conducting the examination shall, as soon as possible, notify the competent authority of the
requesting Party about the time and place of the examination, the authority or official designated to
carry out the examination and the procedures and conditions required by the requested Party for the
conductoftheexamination.Alldecisionswith respecttotheconductofthetaxexaminationshallbe
madebythePartyconductingtheexamination.

ARTICLE7
PossibilityofDecliningaRequestforInformation
1.ThecompetentauthorityoftherequestedPartymaydeclinetoassist:
a wheretherequestisnotmadeinconformitywiththisAgreementor
b wheretherequestingPartyhasnotpursuedallmeansavailableinitsownterritorytoobtain
the information, except where recourse to such means would give rise to disproportionate
difficultyor
c wheredisclosureoftheinformationwouldbecontrarytopublicpolicy(ordrepublic)ofthe
requestedParty.
2.ThisAgreementshallnotimposeonaContractingPartytheobligation:
a to supply information which would disclose any trade, business, industrial, commercial or
professional secret or trade process, provided that information described in paragraph 4 of
Article 5 shall not be treated as such a secret or trade process merely because it meets the
criteriainthatparagraphor
b toobtainorprovideinformation,whichwouldrevealconfidentialcommunicationsbetweena
client and an attorney, solicitor or other admitted legal representative where such
communicationsare:
a. producedforthepurposesofseekingorprovidinglegaladviceor
b. producedforthepurposesofuseinexistingorcontemplatedlegalproceedingsor
c tocarryoutadministrativemeasuresatvariancewiththelawsandadministrativepracticesof
theContractingParty,providednothinginthissubparagraphshallaffecttheobligationsofa
ContractingPartyunderparagraph4ofArticle5.

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3.A request for information shall not be refused on the ground that the tax claim giving rise to the
requestisdisputed.
4.The requested Party shall not be required to obtain and provide information which the requesting
Party would be unable to obtain in similar circumstances under its own laws for the purpose of the
administrationorenforcementofitsowntaxlawsorinresponsetoavalidrequestfromtherequested
PartyunderthisAgreement.
5. The requested Party shall not decline to provide information solely because the request does not
include all the information required under Article 5 if the information can otherwise be provided
accordingtothelawoftherequestedParty.
6. The requested Party may decline a request for information if the information is requested by the
requesting Party to administer or enforce a provision of the tax law of the requesting Party, or any
requirement connected therewith, which discriminates against a national of the requested Party as
comparedwithanationaloftherequestingPartyinthesamecircumstances.

ARTICLE8
Confidentiality
AnyinformationreceivedbyaContractingPartyunderthisAgreementshallbetreatedasconfidential
andmaybedisclosedonlytopersonsorauthorities(includingcourtsandadministrativebodies)inthe
jurisdictionoftheContractingPartyconcernedwiththeassessmentorcollectionof,theenforcementor
prosecution in respect of, or the determination of appeals in relation to, the taxes covered by this
Agreement.Suchpersonsorauthoritiesshallusesuchinformationonlyforsuchpurposes.Theymay
disclosetheinformationinpubliccourtproceedingsorinjudicialdecisions.Theinformationmaynot
be disclosed to any other person or entity or authority or any other jurisdiction without the express
writtenconsentofthecompetentauthorityoftherequestedParty.

ARTICLE9
Administrativecosts
1.UnlessthecompetentauthoritiesoftheContractingPartiesotherwiseagree,ordinarycostsincurred
in providing assistance shall be borne by the requested Party, and, subject to the provisions of this
Article, extraordinary costs incurred in providing assistance (including costs of engaging external
advisorsinconnectionwithlitigationorotherwisenecessarytocomplywiththerequest)shall,ifthey
exceedUSD500,bebornebytherequestingParty.
2. The competent authorities will consult each other, in advance, in any particular case where
extraordinary costs are likely to exceed USD 500 to determine whether the requesting Party will
continuetopursuetherequestandbearthecost.
3.ThecompetentauthoritiesshallconsulteachotherasandwhennecessarywithregardtothisArticle.

ARTICLE10
ImplementationLegislation
The Contracting Parties shall enact any legislation necessary to comply with, and give effect to, the
termsoftheAgreement.

ARTICLE11
MutualAgreementProcedure
1.WheredifficultiesordoubtsarisebetweentheContractingPartiesregardingtheimplementationor
interpretation of theAgreement, the competent authorities shall endeavour to resolve the matter by
mutualagreement.Inaddition,thecompetentauthoritiesoftheContractingPartiesmaymutuallyagree

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ontheprocedurestobeusedunderArticles5,6and9ofthisAgreement.
2.ThecompetentauthoritiesoftheContractingPartiesmaycommunicatewitheachotherdirectlyfor
purposesofreachingagreementunderthisArticle.

ARTICLE12
EntryintoForce
1. The Contracting Parties shall notify each other in writing, through diplomatic channels, of the
completionoftheproceduresrequiredbytherespectivelawsfortheentryintoforceofthisAgreement.
2. This Agreement shall enter into force on the date of the later of the notifications referred to in
paragraph1ofthisArticleandshallthereuponhaveeffectforthwith.

ARTICLE13
Termination
1.ThisAgreementshallremaininforceuntilterminatedbyeitherContractingParty.
2. Either Contracting Party may, after the expiry of five years from the date of entry into force,
terminate this Agreement by serving a written notice of termination to the other Contracting Party
throughdiplomaticchannels.
3.Suchterminationshallbecomeeffectiveonthefirstdayofthemonthfollowingtheexpirationofa
periodofsixmonthsafterthedateofreceiptofnoticeofterminationbytheotherContractingParty.All
requests received up to the effective date of termination shall be dealt with in accordance with the
provisionsoftheAgreement.
4.NotwithstandinganyterminationoftheAgreementtheContractingPartiesshallremainboundbythe
provisionsofArticle8withrespecttoanyinformationobtainedundertheAgreement.
Inwitnesswhereof,theundersigned,beingdulyauthorisedthereto,havesignedthisAgreement.
DONEinduplicateatNewDelhithis11thdayofApril,2016,eachintheEnglishandHindilanguages,
bothtextsbeingequallyauthentic.Incaseofdivergenceofinterpretation,theEnglishtextshallprevail.

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