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The Implementation of GAAR deferred by 2 Years, to Come into Force from 1April 2016


Author :Kunal

Top Picks :  January 2013 Current Affairs, 2013 Current Affairs, Economy

The implementation of General Anti Avoidance Rules (GAAR) was deferred by two years by the government of India. It will now come into force from 1 April 2016. Earlier, the provisions of GAAR were to be implemented from 1 April 2014. GAAR will not apply to those Foreign Institutions Investors, FIIs who are not taking any benefit under an agreement under the Income Tax Act. Besides, it will also not apply to non-resident investors in FIIs.

The Parthasarathi Shome Committee in its final report submitted to Finance ministry on 30 September 2012 had suggested that GAAR should be deferred by three years. The report was made public on 14 January 2013. Union Government accepted major recommendations of the Shome Committee with some modifications.

Shome Committee was set up by Prime Minister Manmohan Singh in July 2012 to address the issue of GAAR.

Is this article important for exams ?   Yes36 People Agreed

Read more Current Affairs on: GAAR, Shom committee, finance ministry
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5 Comment

shalom john,

i wish that you help me to find out defense service i want to serve my mother land and i completed my MBA+PGDM so please help me out .

Prakash yadav,

acyually i had dream to join indian army bt i have to write 2nd puc supplementary exam so what should i do now


done b.tec in mechanical stream ....now wanna apply for indian navy which brach suits me best?


Dear Sir Pls advise how to apply for my nephew who is 18+ and had just passed 12 from NIOS with English / accountancy as subject.

Rahul solanki,

Sir I m passed by arts subject so can I apply for navy because I wanna go in navy please inform me then I applying

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