Q. Many a times we read in the newspapers that the Government of India signs DTAA to broaden the scope of article of exchange of information to include exchange of banking information. What does the DTAA refers to here?

Answer: Double Taxation Avoidance Agreements
Notes: DTAA stands for Double Taxation Avoidance Agreements. These treaties are signed between two countries to prevent the same income from being taxed in both jurisdictions, promoting cross-border trade and investment. The agreements often include provisions for the exchange of information, including banking information, to combat tax evasion. As of 2023, India has signed DTAA with over 90 countries, enhancing transparency and cooperation in tax matters.