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The Union Cabinet on Thursday gave its nod for amending the existing double taxation avoidance convention (DTAC) between India and Turkmenistan.
Besides enabling exchange of banking information, the protocol amending the DTAC also provides that the information received from Turkmenistan in respect of resident of India can be shared with other law enforcement agencies.
This could be done with the authorisation of the Competent Authority of Turkmenistan and vice versa, an official release said..
The Protocol also provides for 'Limitation of Benefits' Article as an anti-abuse provision aimed at preventing misuse of the Convention.
Srivats.kr@thehindu.co.in
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