The Double Taxation Avoidance Convention (DTAC) which was signed between India and Japan in 1989 has been amended in order by the Union Cabinet to facilitate tax-related exchange of information.
- The protocol will facilitate exchange of information as per accepted international standards on tax matters, including bank information and information without domestic tax interest.
- The protocol signed between the countries also has a provision to offer assistance to each other country in collection of revenue claims as well as for exemption of interest income from taxation in the source country with respect to debt claims insured by the government or government-owned financial institutions.
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