Draft guidelines regarding implementation of General Anti Avoidance Rules (GAAR) in terms of section 101 of the Income Tax Act, 1961.

Draft guidelines regarding implementation of General Anti Avoidance Rules (GAAR) in terms of section 101 of the Income Tax Act, 1961. https://www.taxtmi.com/news?id=3493 Draft guidelines recommend a framework for implementing General Anti-Avoidance Rules (GAAR) under section 101 of the Income-tax Act, 1961 through a monetary threshold, prescribed statutory forms, fixed time limits and an Approving Panel mechanism. The circular is intended to explain GAAR, distinguish tax avoidance from tax evasion and tax mitigation, provide safe-harbour treatment for certain Foreign Institutional Investors, clarify the prospective operation from 01.04.2013, and limit GAAR where a specific anti-avoidance rule already applies except in exceptional abusive cases. en-us Fri, 29 Jun 2012 11:02:38 +0530 Fri, 29 May 2026 14:22:00 +0530 TaxTMI RSS Generator Draft guidelines regarding implementation of General Anti Avoidance Rules (GAAR) in terms of section 101 of the Income Tax Act, 1961. https://www.taxtmi.com/news?id=3493 Draft guidelines recommend a framework for implementing General Anti-Avoidance Rules (GAAR) under section 101 of the Income-tax Act, 1961 through a monetary threshold, prescribed statutory forms, fixed time limits and an Approving Panel mechanism. The circular is intended to explain GAAR, distinguish tax avoidance from tax evasion and tax mitigation, provide safe-harbour treatment for certain Foreign Institutional Investors, clarify the prospective operation from 01.04.2013, and limit GAAR where a specific anti-avoidance rule already applies except in exceptional abusive cases. News - Fri, 29 Jun 2012 11:02:38 +0530 https://www.taxtmi.com/news?id=3493