India ratifies double taxation avoidance deals
India has ratified its Double Taxation Avoidance Agreements (DTAAs) with Saarc countries and the revised treaties will come into effect from next financial year beginning on April 1.
The tax agreement among Bangladesh, Bhutan, Maldives, Nepal, Pakistan, Sri Lanka and India was ratified by the Saarc secretariat last April.
The tax information exchange treaty among South Asian Association For Regional Cooperation (Saarc) nations was struck first in Dhaka in 2005.
"The government hereby directs that all the provisions of the said agreement shall be given effect to in the Union of India with effect from 1st day of April, 2011," a gazette notification said.
According to the notification, the new agreement will apply to persons who are residents of one or more member-countries.
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