India, Armenia sign DTAA pact

In a move to further check generation of black money, India and Armenia signed an amended double taxation avoidance treaty, under which, both countries will share information on banking and financial transactions.

“The protocol amends the Double Taxation Avoidance Convention, between India and Armenia that has been in existence since September, 2004,” an official statement said.

The protocol will enable the two countries to exchange information related to financial and banking transactions under the Double Taxation Avoidance Convention, and facilitate them in addressing tax evasion.