November 23, 2015

General Anti-Avoidance Rules: Current Position

General Anti-Avoidance Rules (GAAR) are general rules that target any transaction of business arrangement that is done for aggressive tax planning, tax avoidance or tax evasion. GAAR were introduced in Australia in 1981, Canada in 1988, South Africa in 2006…

March 4, 2013

Parthasarathy Shome Panel Recommendations

The Parthasarathy Shome panel was formed by PM of India in 2012, for drawing up the final guidelines on GAAR and mainly to bring about tax clarity and address the concerns of foreign investors. Instead of only FIIs, the panel…