India and China amended the Double Taxation Avoidance Agreement between the two countries through a protocol signed on November 26, 2018.
The protocol amends the existing provisions for exchange of information and will now adhere to international standards for the same.
The amendment also incorporates provisions to implement treaty associated minimum standards under the Action reports that were developed on the Base Erosion & Profit Shifting (BEPS) Project.
BEPS are tax avoidance strategies that exploit gaps and mismatches in taxation rules of different countries to artificially move profits from higher- tax jurisdictions to countries with lower tax. The 2012 G20 summit had tasked the OECD to implement minimum standards to prevent such tax avoidance.
The OECD BEPS Multilateral Instrument ("MLI"), was introduced on November 24, 2016 and has since been signed by over 78 countries. It came into force in July 2018.
The original DTAA may be downloaded below.