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Jan 24, 2015
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India to seek more time for anti-tax evasion deal with US
India is set to seek time beyond January 31 for signing a deal with the US for helping each other track down the wealth people stash with financial institutions in the other nation without reporting it to their domestic tax authorities.
The extra time for India to sign the information sharing pact, which is likely to be granted by the US, would mean that American financial institutions wouldn’t have to enforce a 30% penal withholding tax on payments made to Indian clients from February 1.
Source -
http://www.financialexpress.com
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