<h1>India and Japan Amend Tax Convention to Enhance Information Exchange, Mutual Assistance, and Exempt Certain Interest Income from Taxation.</h1> The Governments of India and Japan have signed a Protocol amending their existing Convention aimed at avoiding double taxation and preventing fiscal evasion concerning income taxes. Originally signed in 1989, the updated Protocol introduces internationally accepted standards for the exchange of tax-related information, including bank details and data without domestic tax interest. It allows shared information to be used by law enforcement agencies with appropriate authorization. Additionally, the Protocol facilitates mutual assistance in revenue collection and exempts interest income from taxation in the source country for debt-claims insured by government or government-owned financial institutions.