Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: TDS :: empanelment :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: VAT Audit :: list of goods taxed at 4% :: cpt
 
 
Latest Circulars »
 Exim Bank's Government of India supported Line of Credit of USD 52.30 million to the Government of the Republic of Mauritius
 RBI-Formation of a new district in the State of Haryana - Assignment of Lead Bank Responsibility
 RBI proposes fresh Regulations under Foreign Exchange Management Act, 1999 for Cross Border Mergers: Invites comments from stakeholders
 Decrease in Foreign Investment limit/ceiling under the PIS in Indian Companies from 49% to 47% - M/s Ujjivan Financial Services Limited
 RBI launches the May 2017 Round of Inflation Expectations Survey of Households
  RBI announces auction of a 15-days Government of India Cash Management Bill
 Auction of Government of India Dated Securities April 24, 2017
 RBI- Compliance with Ghosh Committee Recommendations
 RBI announces auction of a 15-days Government of India Cash Management Bill
  Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 - Amended
 Minutes of the Monetary Policy Committee Meeting April 5-6, 2017

Protocol amending the Convention between India, UK and Northern Ireland for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect of Taxes on Income and Capital Gains (DTAC)
November, 02nd 2012
                            PRESS INFORMATION BUREAU
                            GOVERNMENT OF INDIA*****



 PROTOCOL AMENDING THE CONVENTION BETWEEN INDIA, UK AND THE
    NORTHERN IRELAND SIGNED FOR THE AVOIDANCE OF DOUBLE
TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO
              TAXES ON INCOME AND CAPITAL GAINS

                                                               New Delhi, 1st , November, 2012
                                                                      10 Kartik, 1934 (SAKA)

       India and UK signed a Protocol amending the Convention between the Government of
the Republic of India and the Government of the United Kingdom of Great Britain and
Northern Ireland for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion
with Respect of Taxes on Income and Capital Gains (DTAC). This Protocol amends the
earlier Convention that was assigned in New Delhi on 25th January, 1993. The Protocol was
signed on 30th October 2012 in London by Dr Jaimini Bhagwati, High Commissioner of India
to the UK on behalf of the Government of India and Mr David Gauke MP, Exchequer
Secretary to the Treasury on behalf of the Government of UK.



       The Protocol streamlines the provisions relating to partnership and taxation of
dividends in both the countries. Now, benefits of the Convention would also be available to
partners of the UK partnerships to the extent income of UK partnership are taxed in their
hands. Further, the withholding taxes on the dividends would be 10% or 15% and would be
equally applicable in UK and in India.
        The Protocol incorporates in the Convention provisions for effective exchange of
information between tax authorities of the two countries in line with latest international
standards including exchange of banking information and supplying of information
irrespective of domestic interest. It now also provides for sharing of information to other
agencies with the consent of the supplying state.
        There would now be a new article in the Convention on assistance in collection of
taxes. This article also includes provision for taking measures of conservancy. The Protocol
also incorporates into the Convention anti-abuse (limitation of benefits) provisions to ensure
that the benefits of the Convention are not misused. Both the countries would further enter
into MOUs to expedite exchange of information and assistance in collection of taxes.



        The Convention, as amended by this Protocol, will provide tax stability to the
residents of India and U.K. and will facilitate mutual economic cooperation between the two
countries. It will also stimulate the flow of investment, technology and services between
India and U.K.
                                                *****
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Customer relationship management software CRM software Operational CRM Collaborative CRM

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions