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of <h1>India-UK DTAA: Tax Collection Suspension for UK Residents During MAP with Bank Guarantee Requirement.</h1> The India-UK Double Taxation Avoidance Agreement (DTAA) includes a provision for suspending tax collection during the Mutual Agreement Procedure (MAP) to alleviate hardships faced by non-resident taxpayers. The competent authorities of India and the UK have signed a Memorandum of Understanding (MOU) to suspend tax collection for UK residents under MAP consideration, contingent upon providing a bank guarantee equal to the disputed tax amount and accruing interest. This suspension remains effective until the MAP concludes. If unresolved, the guarantee may be invoked. The process aims to manage tax disputes efficiently while safeguarding taxpayer interests.
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