GAAR
I have already mentioned in my earlier posts about meaning of GAAR. GAAR is General Anti Avoidance Rules. Assocham said that the government should put off implementation of GAAR until 2015 as these have created a bad perception about Indian tax laws among global investors. But Finance Ministry has put out a comprehensive draft of new guidelines for GAAR. Here are facts about this draft:
1. Finance ministry said that GAAR will come into effect from April1,2013. Through releasing draft, finance ministry committee stated that FIIs not opting for treaty benefits and ready to pay taxes will not come under GAAR, […] Read more