Protocol amending Convention and Protocol between India & Israel approved
Q. Union Cabinet has approved a protocol amending convention and protocol for DTAA between which country and India on 7th October 2015?- Published on 08 Oct 15a. Israel
b. Germany
c. US
d. Australia
ANSWER: Israel
Union Cabinet has approved an amendment to the Convention and Protocol between India and Israel for avoidance of DTAA and fiscal evasion regarding taxes on income and capital. Protocol provides globally accepted standards for effective exchange of information on tax matters such as bank data without domestic tax interest. It also holds that data provided from Israel regarding Indian residents can be shared with law enforcement agencies with authorisation from Competent Authority of Israel and vice versa. Existing DTAC between the two nations was signed in the 1990s.
