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Aug 08, 2012, 06.59 PM IST | Source: CNBC-TV18

GAAR provisions to apply from assessment yr 2014-15: FinMin

In a statement in the lower house of the parliament, the finance ministry said that provisions on GAAR will be applicable from the assessment year 2014-15.

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In a statement in the lower house of the parliament, the finance ministry  said that provisions on GAAR will be applicable from the assessment year 2014-15 and the guidelines will be prescribed through subordinate legislations.

According to the finance ministry, 14 institutions including PWC, US Council for International Business and Alstom have submitted their views on the draft GAAR guidelines. 

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