Wednesday, February 15, 2017

Clarification on implementation of GAAR

CBDT has issued provision on General Anti Avoidance Rule (GAAR) that shall be effective from AY 2018-19 onwards i.e. FY 2017-18 onwards. The necessary procedures for application of GAAR and condition, under which it shall not apply have been enumerated in Rules 10U and 10UC of the Income Tax Rules, 1962. 

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