Current Affairs Question - 08 November 2019

Recently, the Union Cabinet has approved the signing of the Protocol amending the Convention between India and Brazil for the Double Taxation Avoidance Convention (DTAC).Consider the following given statements about the Double Taxation Avoidance Agreement:

1. DTAA is a tax treaty signed between two or more countries to help taxpayers avoid paying double taxes on the same income.
2. It can be either be comprehensive, encapsulating all income sources, or limited to certain areas, which means taxing of income from shipping, inheritance, air transport, etc.

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Recently, the Union Cabinet has approved the creation of an Alternative Investment Fund (AIF) to provide last-mile funding for stalled affordable and middle-income housing projects across the country. Consider the following given statements about the AIF:

1. In India, AIFs are defined in Regulation 2(1) (b) of Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012.
2. AIF can be established in the form of a company or a corporate body or a trust or a Limited Liability Partnership (LLP).
3. Private equity or venture capital, hedge funds, real property, commodities, and tangible assets are all examples of alternative investments.

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