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GAAR News

15 May 2019

I-T dept again defers GST, GAAR reporting in tax audit report till March 2020

The reporting requirement of these details in income tax audit form has been kept in abeyance till March 31, 2020 -- meaning that all income tax audit reports need not include details on GST and General Anti-Avoidance Rules (GAAR) till March 2020.

23 Aug 2017

I-T dept open to reducing withholding tax for companies

The income tax department is open to lowering the withholding tax rate for foreign companies which have income in India, a senior official said on Wednesday.

06 Feb 2017

Focus of Budget is on tax compliance: CBDT

The Union Budget 2017-18 focuses on increasing tax compliance while at the same time safeguarding the honest tax payers from any harassment, Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said on Monday

27 Jan 2017

GAAR to be implemented from April 2017

27 Jan 2017

GAAR from April 1, 2017; to be invoked in fair, rational manner: CBDT

GAAR, it said, will come into force from April 1 and can be invoked only through a two-stage process involving a nod at the level of principal commissioner of income tax and a panel headed by a high court judge.

General Anti-Avoidance Rules

27 Jan 2017

GAAR to be effective from April 1, 2017: CBDT

Addressing investors' concerns ahead of GAAR implementation from April 1, the tax department today said it will not interplay with their right to choose a method of transaction and won't apply if routing of funds through a jurisdiction is "based on non-tax commercial considerations".

P-note maturities

13 Jul 2016

P-note maturities should be exempt from GAAR: Assocham

The General Anti-Avoidance Rules (GAAR) should not apply to a foreign portfolio investor (FPI) on redemption and maturity of participatory notes, industry body Assocham said Wednesday.

26 Jun 2016

GAAR not to apply on income from investments before April 1

To clear the air on retrospective applicability of the stringent anti-avoidance GAAR rule, the I-T department has said the same will not apply to income from transfer of investments before April 1, 2017.

Participatory notes

11 May 2016

Mauritius treaty amendment: Status quo on P-Notes taxation

India's revised tax treaty inked with Mauritius will have no bearing on investments via Participatory Notes and the existing dispensation will continue to apply on them, government said Wednesday.

11 May 2016

GAAR to override bilateral tax treaty provisions: Revenue Secy

A day after the revision of bilateral tax treaty with Mauritius, Finance Ministry on Wednesday said GAAR provisions, which are to take effect from April next year, will override the DTAA provisions in case they are abused.

11 May 2016

Positive and Negative affect of GAAR

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03 Mar 2016

PoEM postponed for convenience of accounting: Adhia

The rules for determining place of effective management of a company have been deferred till April 2017 so as to give corporates sufficient time to prepare accounts according to their place of residency under the new norms, Finance Ministry said today.

02 Mar 2016

GAAR: CBDT says no unfettered powers given to tax officers

CBDT has said the taxman has not been given any "unfettered" power and adequate safeguards have been deployed for regulating the provisions aimed to check tax evasion from overseas locations.

07 Jun 2015

Mauritius regains top slot as source of FDI in India

Mauritius accounted for about 29 per cent of the country's total FDI inflows last fiscal. In 2013-14, Singapore had replaced Mauritius as the top source of FDI into India.

19 Apr 2015

Foreign fund inflows cross Rs 83,000 cr this year

Analysts expect the inflows to accelerate further in view of clearance of reform bills for insurance, coal and mining, as also on assurances on controversial issues like General Anti Avoidance Rules (GAAR).

12 Apr 2015

Foreign fund inflows cross Rs 81,000 cr mark in 2015

With overseas investors pumping in over Rs 2,000 crore in the Indian capital markets so far this month, total foreign fund inflows have crossed the Rs 81,000 crore mark since the beginning of the year.

28 Mar 2015

'India can attract significant FDI if it sorts out tax issues'

Japanese investors remain "very positive" on India, saying there is a big opportunity for placing "significant" FDI if the country can sort out some of its tax issues, a top official of Japan's financial services major Nomura has said.

24 Mar 2015

Mauritius promises India full-cooperation on tax treaty issues

Mauritius has promised full cooperation with India to address outstanding issues relating to their bilateral tax treaty, days after Prime Minister Narendra Modi's visit to the island nation.

22 Mar 2015

FPI inflow hits $12 billion

Overseas investors have poured in USD 2.5 billion into the Indian capital markets so far this month, taking the total inflow to around USD 12 billion since the beginning of the year.

Parthasarathi Shome

02 Mar 2015

Shome welcomes deferment of GAAR in Budget

Parthasarathi Shome, the Chairman of Tax Administration Reforms Commission, constituted by the Finance Ministry, Monday hailed the decision to defer General Anti-Avoidance Rules (GAAR) as announced in the Budget.

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