This Convention shall remain in force indefinitely, but either of the Contracting States may on or before 30th June in any calendar year beginning after the expiration of a period of five years from the date of its entry into force give to the other Contracting State, through diplomatic channels, written notice of termination.
In such event the Convention shall cease to have effect:
- (a) in India, in respect of income assessable for any taxable period ("previous year") commencing on or after the 1st day of April in the calendar year next following that in which such notice is given;
- (b) in Italy, in respect of income assessable for any taxable period commencing on or after the 1st day of January in the calendar year next following that in which such notice is given.
IN WITNESS WHEREOF, the undersigned, duty authorised thereto by their respective Governments, have signed the present convention.
DONE in duplicate at New Delhi the 19th day of February, 1993, in Hindi, Italian and English languages, all texts being equally authoritative except in the case of doubt when the English text shall prevail.
FOR THE GOVERNMENT OF THE REPUBLIC OF ITALY:
FOR THE GOVERNMENT OF THE REPUBLIC OF INDIA:
M.V. CHANDRASHEKARA MURTHY