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of <h1>India-Mongolia Double Tax Agreement Covers Income and Wealth Taxes, Requires Notification of Tax Law Changes</h1> The Double Tax Avoidance Agreement (DTAA) between Mongolia and India applies to specific taxes in both countries. In Mongolia, it covers the individual and corporate income taxes, referred to as 'Mongolian tax.' In India, it includes the income tax, with any surcharges, and the wealth tax, referred to as 'Indian tax.' The agreement also extends to any identical or substantially similar taxes imposed by either country after the agreement's signing. The competent authorities must notify each other of significant changes in their taxation laws within a reasonable time frame.
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