He further said that information on 628 Indian persons holding bank accounts in HSBC bank in Switzerland was received from the government of France under the Double Taxation Avoidance Convention
(DTAC) between India and France.
Under the Double Taxation Avoidance Convention
(DTAC) between India and France in 2011, India has obtained information from Government of France on 628 Indians holding bank accounts in HSBC Bank (LSE: HSBA) (NYSE: HBC) (HKG: 0005) in Switzerland, the report said.
Revenue Secretary Hasmukh Adhia said there was no separate rule provided for P-Notes in the revised Double Taxation Avoidance Convention
(DTAC) that gives India right to tax capital gains arising in Mauritius on shares of an Indian company bought after March 31, 2017.
The amendment to the 1983 Double Taxation Avoidance Convention
( DTAC) with Mauritius was signed in the island nation's capital Port Louis on Tuesday.
Cyprus and Ukraine signed on Friday in the Ukrainian capital Kiev a protocol amending their bilateral double taxation avoidance convention
, the finance ministry said.
8 ( ANI ): India signed a protocol amending the India - Morocco Double Taxation Avoidance Convention
(DTAC) here today.
Mukherjee said the government has received information from France and Germany under Double Taxation Avoidance Convention
The legal grounds of juridical framework between fiscal code and Double Taxation Avoidance Convention
are regulated in: Romania Constitution provisions with regard to international law and internal law: "article 11 (1) the Romanian State is obliged to fulfill as it is stated and in good manners the obligations under the Treaties, to which Romania is part of; (2) treaties ratified by the Parliament, according to law, are part of internal law; (3) when a treaty states unconstitutional clauses with regard to the Romanian Law, it shall be ratify unless the Constitutional provisions are modified;" Fiscal Code provisions.
On international scale, there are two draft conventions on which the double taxation avoidance convention
is based: Organization for Economic Cooperation and Development (OECD) Model Double Taxation Convention, which stands for developed countries advantages; United Nations Model Double Taxation Convention that represents a compromise between the source principle and the residence principle, though it gives more weight to the source principle than does the OECD Model Convention.
Recalling the G20 stand that sanctions may be deployed to protect their public finances and financial systems, Chidambaram further wrote, " If information continues to be denied to India under DTAC ( Double Taxation Avoidance Convention
), the government of India will be constrained to take a position in the global forum.