English Release 23-April 2014
- Election Commission
Overall Facts at A Glance of 6th Polling Day on 24th April, 2014
- Facts at a Glance: Jammu & Kashmir (6th Poll Day)
- Min of Civil Aviation
DGCA Allows Use of Cellphone During Flight
- Min of Personnel, Public Grievances & Pensions
- Min of Petroleum & Natural Gas
- Production Performance of Oil & Natural Gas sector for the month of March, 2014
- Global crude oil price of Indian Basket increased to US$ 107.08 per bbl on 22.4.2014
- Ministry of Railways
- Mobile and Desktop APP on Windows 8.0 for National Train Enquiry System (NTES) Commenced
Ministry of Finance08-March, 2013 18:45 IST
Double Taxation Avoidance agreement (DTAA) with South Korea |
|India has signed 88 Double Taxation Avoidance Agreements (DTAAs) out of which 85 have entered into force, with various countries including Sri Lanka and South Korea. |
The DTAAs provide for allocation of taxation rights to source State and residence State in respect of business profits including that of a permanent establishment, operation of ships or aircraft in international traffic, dividends, interest, royalty, capital gains etc. Further, DTAAs have provisions for exchange of information for tax purposes.
The DTAAs facilitate mutual economic cooperation and provide tax certainty to the resident tax payers of both the countries. Further, the DTAAs aim to avoid the burden of double taxation on the income of residents of the two treaty countries and also simulate flow of investment, technology and services between them.
This was stated by the Minister of State for Finance, Shri S. S. Palanimanickam in a written reply to a question in the Lok Sabha today.
(Release ID :93330)