GAAR Current Affairs - 2019

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GAAR will be effective from April 1, 2017

The Union Finance Ministry has announced that the General Anti Avoidance Rule (GAAR) will be effective from the 1 April, 2017. In this regard Income Tax (IT) department has issued a slew of clarifications on implementation of GAAR, seeking to address concerns of foreign investors over implementation of the anti-evasion measure. GAAR seeks to prevent Read More…

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Budget Box: Changed GAAR provisions to come into effect from April 2016

As announced in the current Budget, the modified version of controversial General Anti Avoidance Rules (GAAR) provisions will be implemented from April 2016. The modified provisions maintain the basic thrust and purpose of GAAR. The government had formed an expert committee chaired by Parathasarthi Shome to give recommendations on the anti-avoidance tax proposals. The panel Read More…

Month:  Categories: Business, Economy & Banking

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GAAR amendments finalized: Chidambaram

Finance Minister P.Chidambaram held that the amendments to General Anti-Avoidance Rules (GAAR), have been finalized. GAAR, was proposed in the 2012-13 Budget in order to preventing tax evasion. But it aroused sharp reactions from foreign as well as domestic investors who feared that unchecked powers to taxmen would result in harassment of the investors. Thus, Read More…

Month:  Categories: Business, Economy & Banking

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