DTAA With Singapore Amended, Switzerland To Give Information On Money Parked By Indians: Arun Jaitley

Round-tripping of money has stopped, said Arun Jaitley After 2019, entire capital gains tax will come to India, Mr Jaitley added 2016 has been historic, 3 double taxation agreements have been amended

NDTV Profit Desk

30 Dec 2016, 05:53 PM IST

Finance Minister Arun Jaitley said revisiting of Double Taxation Avoidance Agreements is very important.

The 50-day deadline to deposit old Rs 500 and Rs 1,000 notes ended today. Finance Minister Arun Jaitley addressed the media.

Here are the key highlights:

Double Taxation Avoidance Agreement (DTAA) with Singapore amended today
With this, all 3 Double Taxation Avoidance Agreements amended this year (with Singapore, Mauritius and Cyprus)
2016 has been historic, three double taxation agreements have been amended to avoid round-tripping
Revisiting of Double Taxation Avoidance Agreements very important
Round-tripping of money has stopped
After 2019, entire capital gains tax will come to India
From 2019, Switzerland will give information about all money parked there by Indians
Under the amended agreements, these countries will share taxes with India till 2019