Recovery of tax in pursuance of agreements with foreign countries - Section 418 ( New) / Section 228A (Old)

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....ax pursuant to agreements entered into by the Central Government with foreign countries. The provision enables recovery in India of tax dues payable under the laws of a foreign country and, conversely, facilitates recovery abroad of tax arrears due under the Income-tax Act, 2025, in accordance with the terms of the relevant international agreement. Section 418(1) - Recovery in India of Foreign ....

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....ter deducting the expenses incurred in the recovery proceedings. Section 418(2) - Recovery of Tax Arrears from Assets Outside India Where an assessee who is in default or deemed to be in default- • is a resident of a country with which India has entered into an agreement for reciprocal recovery of income-tax; or • has any property situated in such country, th....

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....certificate through the Board in accordance with the applicable agreement. Tax Recovery Officer may recover foreign tax dues on receipt of a certificate through the Board in accordance with the applicable agreement. Persons against whom recovery may be initiated Resident in India or a person having property in India. Resident in India or a person having property in India. ....