<h1>CBDT Issues New Guidelines for Tax Information Exchange Among Treaty Partners, Introducing OECD-Based Proforma for Requests.</h1> The Central Board of Direct Taxes (CBDT) has issued guidelines for the exchange of information among treaty partners, focusing on both inbound and outbound requests. A new proforma, based on OECD templates, is introduced for specific and non-generic requests. Information exchange is not limited to income tax and can include other taxes like VAT. Requests must be foreseeably relevant and not 'fishing expeditions.' Information can cover ownership, accounting records, tax returns, and more. The guidelines allow for spontaneous information exchange, joint audits, and tax examinations, ensuring confidentiality under relevant legal provisions.