Budget 2013 Highlights: Modified GAAR effective April 2016

Against industry expectations of no retrospective taxation, the finance minister has announced that the modified provisions under GAAR will be effective on April 1, 2016.

February 28, 2013 / 12:40 IST

Against industry expectations of no retrospective taxation, the finance minister has announced that the modified provisions under GAAR will be effective on April 1, 2016.

What last year’s Budget said: The Budget introduced a General Anti-Avoidance Rule (GAAR) in order to counter aggressive tax avoidance schemes, while ensuring that it was used only in appropriate cases, by enabling review by a GAAR panel.

first published: Feb 28, 2013 12:40 pm

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