India and United States have signed Inter Governmental Agreement to implement the Foreign Account Tax Compliance Act (FATCA). The agreement will promote transparency on tax matters. Revenue Secretary Shaktikanta Das and U.S. Ambassador to India Mr Richard Verma signed the agreement in New Delhi today. It underscores growing international co-operation to end tax evasion everywhere. An official release said, the signing of agreement is a re-affirmation of the shared commitment of India and USA towards tax transparency and the fight against offshore tax evasion and avoidance. Mr Das said, this step reaffirms the commitment of central government to fight the menace of black money.