<h1>India and Japan Amend 1989 Double Taxation Avoidance Convention to Enhance Tax Information Exchange and Revenue Collection.</h1> The Union Cabinet of India, led by the Prime Minister, approved a protocol with Japan to amend the Double Taxation Avoidance Convention (DTAC) established in 1989. This protocol aims to prevent double taxation and fiscal evasion by facilitating the exchange of tax-related information, including bank details, in line with international standards. It allows for the sharing of information between the two countries' law enforcement agencies with proper authorization. Additionally, the protocol provides for mutual assistance in revenue collection and exempts interest income from taxation in the source country for certain government-insured debt claims.