Government has notified the protocol amending the India-Israel tax treaty to provide for exchange of information on tax matters including bank details to check flow of black money. The amended treaty provides that information received from Israel in respect of an Indian resident can be shared with other law enforcement agencies like the Enforcement Directorate and CBI. <br/><br/>According to a Revenue Department notification, the amended treaty provides for levy of capital gains tax in India on sale of shares or interest in a partnership, trust or other entity. It also provides for 'Limitation of Benefits' Article as an anti-abuse provision to enable enforcement of domestic law in case of misuse of the treaty.