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Q. > Please Help: GAAR
what basically GAAR is ??? how we deal wiyh it??
answered May 10, 2012 by Rishabh Upadhyay , Chandigarh
GAAR stands for general Anti Avoidance Rules. These rules, originally proposed in the Direct Taxes Code, are targeted at arrangements or transactions made specifically to avoid taxes. The government had decided to advance the introduction of GAAR and implement it from the current financial year itself. More than 30 countries have introduced GAAR provisions in their respective tax codes to check evasion.
answered May 11, 2012 by CA Richa Gupta , Faridabad
GAAR is a Genral Anti avoidance Rule which was first introduced in DTC on provisional basis and now as per this budget govt also introduced it from this year, in this IT dept will focus on every overseas transaction which may include tax evasion. However this provision has now again delayed for next F.Y.
answered Jul 01, 2012 by Rambabu Senkarasetti , Guntur
General Anti avoidance rules
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