Exchange of tax information enables cross border assistance for tax administration, subject to confidentiality and procedural safeguards. The Agreement creates a framework for exchange of information foreseeably relevant to administration, assessment, collection and enforcement of taxes between India and Guernsey. Competent authorities must provide requested information held by financial institutions and persons, use available information gathering measures, and may supply depositions or authenticated records where permitted. Requests must demonstrate foreseeable relevance and follow prescribed content; confidentiality, limits on disclosure, grounds for declining assistance, cost allocation for ordinary and extraordinary expenses, implementing legislation, mutual agreement procedures and entry into force and termination rules are specified.