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of <h1>Rule 10U: Exceptions to GAAR for Tax Benefits Under 3 Crore and Pre-2017 Investments Explained</h1> Rule 10U outlines exceptions to the General Anti Avoidance Rule (GAAR) under Chapter X-A of the Income Tax provisions. GAAR does not apply to arrangements where the total tax benefit is under 3 crore, to certain Foreign Institutional Investors who meet specific criteria, to non-residents investing in Foreign Institutional Investors through offshore derivatives, or to income from investments made before April 1, 2017. However, GAAR applies to arrangements with tax benefits obtained on or after April 1, 2017. Definitions for terms like 'Foreign Institutional Investor' and 'offshore derivative instrument' are provided within the rule.
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