GAAR deferred by 2 yrs

In a breather to foreign investors, especially those coming via Mauritius, the government on Monday deferred the controversial General Anti-Avoidance Rules (GAAR) by two years, making the norms effective from the 2016-17 assessment year. The Parthasarathi Shome committee had recommended that GAAR be pushed three years further. All other major recommendations of the panel were accepted, with some deviations.

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