The Expert Committee has submitted its Final Report on General Anti Avoidance Rules (GAAR) in Income-tax Act, 1961. The Report is very comprehensive and apart from giving an in-depth explanation of what the GAAR provisions are, it also has a number of examples of transactions which would be affected by GAAR.
Final Report on General Anti Avoidance Rules (GAAR) (2.1 MiB, 3,866 hits)
[…] of the GAAR Committee which have been accepted by the Government and which form a part of the final report. It is also stated that the GAAR provisions (Chapter X-A) will come into force with effect from […]