The Finance Minister, Mr Pranab Mukherjee has said that the protocol signed with Switzerland on Monday will provide for exchange of information regarding banking transactions and ownership. Making a statement in the Lok Sabha today, Mr Mukherjee said the information exchanged is to be used for tax purpose only. However, the Article also provides for use of information for other purposes which are allowed under the laws of both states. Giving salient features of the Protocol, he said there is a specific provision to ensure that information will be exchanged even if there is no domestic interest. The Finance Minister said the new provision will be applicable only for prospective information and not for past information. He said the protocol will amend the existing Double Taxation Avoidance Agreement (DTAA) between the two countries.