Friday, April 15, 2016

Tax pact with Indonesia in force, will help fight black money

Nearly four years after a deal, India has implemented the new DTAA with Indonesia. The new agreement will take effect in respect of incomes derived on or after April 1, 2017. Some of the significant aspects of the new pact include the introduction of a 'Limitation of Benefit' (LOB) clause and provision for exchange of banking information for tax administration purposes. 

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