Parthasarathi Shome Panel

General Anti-Avoidance Rules (GAAR)

March 8, 2013

GAAR refers to General Anti-Avoidance Rules. These rules target any transaction or business arrangement that is entered into with the objective of avoiding tax. The objective is to check aggressive tax planning. What is meaning of Tax Avoidance? Avoidance means an attempt to reduce tax liability through legal means,...