<h1>GAAR Implementation Delayed: Finance Bill 2013 Sets New Effective Date for April 1, 2016, Following Stakeholder Consultations.</h1> The Finance Bill 2013 proposes that the modified provisions of the General Anti-Avoidance Rules (GAAR) will take effect from April 1, 2016. Initially introduced in the Finance Act 2012, GAAR faced numerous objections, prompting the formation of an expert committee to consult stakeholders and finalize guidelines. After reviewing the committee's report, the government announced decisions on January 14, 2013, which were well-received. These decisions are now being incorporated into the Income-Tax Act, maintaining the core intent and purpose of GAAR.