(1)The Central Government may enter into an agreement with the Government of any country outside India or specified territory outside India,-(a)for the granting of relief in respect of-(i)income on which have been paid both income-tax under this Act and income-tax in that country or specified territory, as the case may be, or(ii)income-tax chargeable under this Act and under the corresponding law in force in that country or specified territory, as the case may be, to promote mutual economic relations, trade and investment, or(b)for the avoidance of double taxation of income under this Act and under the corresponding law in force in that country or specified territory, as the case may be, or(c)for exchange of information for the prevention of evasion or avoidance of income-tax chargeable under this Act or under the corresponding law in force in that country or specified territory, as the case may be, or investigation of cases of such evasion or avoidance, or(d)for recovery of income-tax under this Act and under the corresponding law in force in that country or specified territory, as the case may be, and may, by notification in the Official Gazette, make such provisions as may be necessary for implementing the agreement.
