ITOUSIT Outsourcing and Utility Services (information technology)
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Finance minister Pranab Mukherjee said on Monday that after a comprehensive review of the existing network, steps are being taken to further augment the reach of the ITOUs in some more jurisdictions.
To facilitate real time exchange of information on cross- border transactions, India had set up eight more ITOUs at its missions in Cyprus, France, Germany, the Netherlands, the UAE, UK, the USA and Japan.
The enlarged network of ITOUs along with double taxation avoidance agreements ( DTAA) and tax information exchange agreements ( TIEA) will help India in receiving valuable information in future, Mukherjee said.