GAAR will be effective Apr
1
Mathematics today magazine The Union Finance Ministry
has announced that the General Anti Avoidance Rule (G AAR) will
beelfective from 1 Apr, 201" In this regard Income lax (IT)
Department has issued a slew of clarifications on the implementation of GAAR,
seeking to address concerns of foreign investors over implementation of the
anti evasion measure. mathtoday GAAR seeks to prevent
companies from routing transactions through other countries to avoid taxes. The
rules are framed mainly to minimise and check avoidance of tax. India will be
the 17th nation in the world to have laws that aim to close tax loopholes. At
present. GAAR is in force in nations like Australia. Singapore. China and the
UK math plus.
No comments:
Post a Comment