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of <h1>Finance Bill 2020: Amendments to Sections 90 and 90A to Align DTAAs with MLI, Effective April 2021.</h1> The Finance Bill 2020 proposes amendments to align India's Double Taxation Avoidance Agreements (DTAAs) with the Multilateral Instrument (MLI) to prevent tax base erosion and profit shifting. Section 90 of the Act empowers the Indian government to enter agreements with foreign entities for tax relief, avoidance of double taxation, information exchange, and tax recovery. The MLI, effective from October 1, 2019, modifies DTAAs to ensure profits are taxed where economic activities occur, preventing treaty abuse. Amendments to Sections 90 and 90A will incorporate MLI provisions, effective April 1, 2021, for the assessment year 2021-22 onwards.
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