This Agreement shall remain in force until it is terminated by a Contracting State. Either Contracting State may terminate the Agreement, through diplomatic channels, by giving notice of termination at least six months before the end of any calendar year following the period of five years from the date on which the Agreement enters into force. In such event, the Agreement shall cease to have effect:
- (a) in the Islamic Republic of Iran, in respect of taxes on income arising in any fiscal year beginning on or after the 1st day of Farvardin (in India corresponding to March 21) next following the calendar year in which the notice was given;
- (b) in India, in respect of taxes on income arising in any fiscal year beginning on or after the 1st day of April (in the Islamic Republic of Iran corresponding to Farvardin 12) next following the calendar year in which the notice was given.
DONE in duplicate at New Delhi on 28/11/1396 solar Hijra corresponding to 17/02/2018 in the Hindi, Persian and English languages, all texts being equally authentic. In case of any divergence of interpretation, the English text shall prevail.
IN WITNESS WHEREOF, the undersigned, being duly authorized thereto, have signed this Agreement.
FOR THE GOVERNMENT OF THE REPUBLIC OF INDIA:
CHAIRMAN, CENTRAL BOARD OF DIRECT TAXES
FOR THE GOVERNMENT OF THE ISLAMIC REPUBLIC OF IRAN:
DEPUTY MINISTER OF ECONOMIC AFFAIRS AND FINANCE AND PRESIDENT OF THE ORGANIZATION FOR INVESTMENT, ECONOMIC AND TECHNICAL ASSISTANCE OF IRAN