GAAR

General Anti Avoidance Rule (GAAR) | AIR Spotlight

GAAR is basically a set of rules designed to give Indian revenue authorities the right to scrutinise and tax, transactions which they believe are structured solely to avoid taxes. The rules would be applicable to all taxpayers. GAAR | Background It was originally proposed in Direct Tax Code of 2009 and was postponed for implementing it. It will address …

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Clarifications on implementation of GAAR provisions | PIB Summary

Clarifications on implementation of GAAR provisions under the Income Tax Act, 1961  The General Anti Avoidance Rule (GAAR) provisions shall be effective from the Assessment Year 2018-19 onwards, i.e. Financial Year 2017-18 onwards.  The necessary procedures for application of GAAR and conditions under which it shall not apply, have been enumerated in Rules 10U to 10UC of …

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