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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.

GAAR framework aimed at boosting investor confidence

Last Updated: Friday, November 30, 2012, 22:25

The government is examining recommendations of the Shome committee which suggested postponement of GAAR by three years and non-application of tax laws with retrospective effect on indirect transfers of assets.

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.

Shome committee recommendations on GAAR being examined: Govt

Last Updated: Thursday, November 22, 2012, 15:04

Committee headed by tax expert Parthasarathi Shome, set up by the government, has submitted two reports -- on GAAR and retrospective amendments relating to indirect transfers.

Final view on retro tax amendments by Nov 15: FinMin

Last Updated: Wednesday, October 10, 2012, 23:03

The Parthasarathi Shome committee in its draft report had suggested prospective application of tax law and waiver of interest and penalty in case of retrospective application.

Govt to address retro amendment issue before Budget

Last Updated: Monday, October 08, 2012, 15:42

Seeking to lift investor sentiments, the government Monday said that it will not wait for the Budget, which is due in February, to address the issues concerning retrospective amendment to Income Tax laws.