A Double Taxation Avoidance Agreement (DTAA) is basically an agreement signed between sovereign governments of two countries. The basic objective of entering into DTAA is to provide relief to the taxpayer of one country against duplicity of taxes on same income. In other words, DTAA ensures that taxpayer of one state pays taxes on one income in only one country either source country form where income is earned or residence country of where the taxpayer is a resident. However, DTAA have evolved over period of time and its objectives have expanded to include exchange of tax information between two countries and curbing of black money among other objectives. DTAA is an internationally reckoned agreement and moist of the countries have entered into DTAA with its partner countries.