India recently notified the Third Protocol to amend its Double Taxation Avoidance Agreement related to income taxes with which of the following partner countries?

Introduction / Context:

The question tests awareness of India s network of Double Taxation Avoidance Agreements and important recent amendments to those treaties. In particular, it refers to the Third Protocol that amended the existing agreement between India and a specific partner country. Such protocols are very important in economic and taxation general knowledge because they change how cross border investments and capital gains are taxed, which has direct implications for investors, governments, and international business.

Given Data / Assumptions:

- India has signed Double Taxation Avoidance Agreements with many countries to avoid the same income being taxed twice.

- The question mentions a Third Protocol, which means there had already been earlier protocol amendments to that treaty.

- The task is simply to recall with which country this Third Protocol was notified.

Concept / Approach:

The best way to approach such questions is to link key news events with specific partner countries. The Third Protocol most widely discussed in relation to India in recent years is the one that amended the India Singapore Double Taxation Avoidance Agreement. That protocol shifted capital gains on shares from residence based taxation to source based taxation. This was widely reported in economic news and exam oriented current affairs material.

Step-by-Step Solution:

Verification / Alternative check:

If a student remembers that India earlier signed protocols with Mauritius and Cyprus but that those were not described as a Third Protocol, while the news headline clearly spoke about the Third Protocol with Singapore, this also confirms the answer. Many current affairs compilations specifically highlighted the phrase Third Protocol with Singapore.

Why Other Options Are Wrong:

China has various economic agreements with India, but the widely publicised Third Protocol on DTAA in this period was not with China.

Vietnam has growing trade relations with India, but no major news item spoke about a Third Protocol to a DTAA with Vietnam in this context.

Malaysia also has tax agreements with India, yet there was no famous Third Protocol notification with Malaysia in recent years similar to the India Singapore case.

Thailand is another regional partner, but again it was not the country associated with the Third Protocol emphasised in current affairs.

Common Pitfalls:

A common mistake is to guess another Asian country like China or Malaysia simply because they are economically significant. Another error is to confuse this protocol with separate changes made to the Mauritius treaty. Learners should connect the phrase Third Protocol and capital gains on shares directly with Singapore to avoid confusion.

Final Answer:

The Third Protocol to amend the Double Taxation Avoidance Agreement referred to in the question was notified with Singapore.