Modified GAAR provision to be implemented from April 2016

Last Updated: Thursday, February 28, 2013, 18:06

A number of representations were received against GAAR provisions introduced in the last Budget. Following which the government had set up an expert committee under Parathasarthi Shome to give recommendations on the anti-avoidance tax proposals.

Recommendations on retro-tax laws under examination: Govt

Last Updated: Friday, February 22, 2013, 16:30

The government on Friday said it is examining recommendations of the Parthasarathi Shome panel on controversial retrospective tax laws introduced in the last Budget.

Govt's reforms push will help return to high growth: RBI

Last Updated: Tuesday, January 29, 2013, 12:09

Supporting the government's recent reform push, Reserve Bank on Tuesday said measures like opening up the FDI in some sectors and moves towards fuel price deregulation should put the economy back on the high growth trajectory and spur investment inflows.

Ghost of GAAR buried: Chidambaram

Last Updated: Tuesday, January 22, 2013, 17:17

Chidambaram was also hopeful that fiscal deficit will be contained within the targeted 5.3 percent of the GDP this fiscal and trimmed to 4.8 percent in the next.

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.

Sensex hits two-year high on GAAR deferral, rate-cut hopes

Last Updated: Monday, January 14, 2013, 16:48

The Sensex ended 242.77 points up, or 1.23 percent, to close at 19,906.41, a level last seen on January 6, 2011, soon after the government postponed General Anti Avoidance Rule (GAAR) for two years till April 2016.

Govt postpones GAAR implementation by 2 years to 2016

Last Updated: Monday, January 14, 2013, 13:25

Giving a big relief to overseas investors, the government has postponed implementation of controversial GAAR provisions by two years to April 1, 2016.

India remains attractive investment destination: Deloitte

Last Updated: Tuesday, January 8, 2013, 19:30

A survey of investors, spread across various segments, conducted by Deloitte also found that investors were looking for more clarity on certain tax issues.

Buzzwords of 2012: GAAR to lobbying; Libor to fiscal cliff

Last Updated: Friday, December 28, 2012, 13:01

While the US economy awaits its 'fiscal cliff' at the end of 2012, the world of business in India this year confronted with its own maze of buzzwords that included terms like GAAR, Coalgate, OFCDs and lobbying.

Retro amendment, GAAR keep revenue department busy in 2012

Last Updated: Thursday, December 27, 2012, 13:44

Controversy generated by retrospective tax amendment to bring into net Vodafone-type deals and concerns over implementation of GAAR kept the Revenue Department busy throughout the year amid expectations that the government will resolve them in the coming year.

Revenue dept has sent GAAR amendments to PMO: Chidambaram

Last Updated: Wednesday, December 12, 2012, 22:06

The Revenue Department has submitted amendments to GAAR, the controversial law against tax avoidance, to the Prime Minister's Office (PMO), Finance Minister P Chidambaram said Wednesday.

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.