The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved an agreement for avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income between India and Iran.
"The agreement will stimulate flow of investment, technology and personnel from India to Iran and vice versa, and will prevent double taxation. The agreement will provide for exchange of information between the two countries and improve transparency in tax matters and will help curb tax evasion and tax avoidance," an official statement said.
The agreement is on similar lines as entered into by India with other countries.
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