<h1>India and UK Sign Protocol Amending Double Taxation Convention; Updates on Information Exchange and Treaty Benefits.</h1> A protocol amending the existing Double Taxation Avoidance Convention between India and the UK was signed in London on October 30, 2012. It updates the exchange of information, allowing for the sharing of banking details and use of information for non-tax purposes. New articles include provisions for tax examination abroad, assistance in tax collection, and limitations on treaty benefits to prevent abuse. The protocol also adjusts tax rates on dividends and extends convention benefits to UK partnership members. This amendment aligns with India's efforts to address illegal money in undisclosed foreign accounts and includes ongoing discussions with Mauritius.