Double taxation relief: amendment expands treaty partners to include territories outside India for wealth-tax agreements. The amendment alters the Explanation to section 44A to permit the Central Government to enter into agreements for avoidance or relief of double taxation in respect of wealth-tax with foreign countries and with any territory outside India notified by the Central Government, thereby extending treaty-making power to include notified territories.
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Double taxation relief: amendment expands treaty partners to include territories outside India for wealth-tax agreements.
The amendment alters the Explanation to section 44A to permit the Central Government to enter into agreements for avoidance or relief of double taxation in respect of wealth-tax with foreign countries and with any territory outside India notified by the Central Government, thereby extending treaty-making power to include notified territories.
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