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Shome panel favours deferment of GAAR implementation by 3 yrs

Last Updated: Monday, January 14, 2013, 20:43

The implementation of General Anti-Avoidance Rules (GAAR) should be deferred by three years to April 2017, the Parthasarathi Shome Committee has suggested in its final report on the controversial tax proposal.

India should focus on data mining, analysis of tax admin: Shome

Last Updated: Thursday, November 22, 2012, 23:05

India should strengthen the Large Tax Payers Unit (LTUs) and focus on data mining and analysis of tax administration, expert Parthasarathi Shome said Thursday.

Direct tax code needs to go back to drawing board: Shome

Last Updated: Thursday, October 11, 2012, 23:58

Hinting that the central government would not be able to introduce the direct tax code (DTC) by April 2013, Parthasarathi Shome, who heads the high-powered committee on GAAR, said it needs to go back to the drawing board as some changes are required.

Waive interest, penalty in cases of retro tax changes: Shome

Last Updated: Tuesday, October 09, 2012, 23:22

In a recommendation that could provide relief to firms like Vodafone, a Government-appointed committee Tuesday favoured companies facing tax liability following retrospective amendment to the Income Tax Act should be exempted from payment of interest and penalty.

Final GAAR report by end of the month: Shome

Last Updated: Friday, September 21, 2012, 15:40

The Parthasarathi Shome panel, which is looking into the taxation issues relating to GAAR (general anti-avoidance rules), is likely to submit its final report by end of the month.

India needs to apply GAAR provisions intelligently: Shome

Last Updated: Saturday, September 01, 2012, 18:58

The provisions of General Anti Tax Avoidance Rules (GAAR) should be 'intelligently' applied, said the Chairman of Expert committee, Parthasarathi Shome, after submitting the draft report to Finance Ministry.

GAAR guidelines will be finalised by Sept 30 deadline: Shome

Last Updated: Saturday, July 21, 2012, 21:22

The guidelines on General Anti- Avoidance Rules (GAAR), aimed at checking tax evasion, will be finalised by the September 30 deadline, Chief of Prime Minister-appointed panel on GAAR, Parthasarathi Shome said on Saturday.

GAAR guidelines will be finalised by Sept 30 deadline: Shome

Last Updated: Saturday, July 21, 2012, 21:22

The guidelines on General Anti- Avoidance Rules (GAAR), aimed at checking tax evasion, will be finalised by the September 30 deadline, Chief of Prime Minister-appointed panel on GAAR, Parthasarathi Shome said on Saturday.

Will expand consultation process, says GAAR panel chief

Last Updated: Monday, July 16, 2012, 22:23

Chief of Prime Minister appointed panel on GAAR Parthasarathi Shome Monday said ambit of consultations on the anti-tax evasion measures will be widened.

PM sets up committee to finalise GAAR roadmap by Sept 30

Last Updated: Friday, July 13, 2012, 15:17

The expert panel will be headed by Parthasarathi Shome and other members in the team include N Rangachary, Ajay Shah and Sunil Gupta.