CBDT Invites Comments/Suggestions on Draft GAAR Guidelines
CBDT Invites Comments/Suggestions on Draft GAAR Guidelines:
Central
Board of Direct Taxes (CBDT), Ministry of Finance has invited comments/suggestions
on the Draft Guidelines regarding implementation of General Anti Avoidance
Rules (GAAR) in terms of Section 101 of The Income Tax Act, 1961.The Draft GARR
Guidelines were issued yesterday along with the relevant Annexures.
All these details are available on the Departmental websites- www.pib.nic.in, www.finmin.nic.in,
www.incometaxindia.gov.in and www.irsofficersonline.gov.in.
The
comments/suggestions, if any, can be forwarded at the following address or at
the email id: rammohan.irs@gmail.com
on or before 20th July,2012.
Ram Mohan Singh, IRS
Additional Director of Income Tax,
Additional Director of Income Tax,
(International Taxation), Range-1,
4th Floor, Room No. 402,
4th Floor, Room No. 402,
Drum Shape Building, I.P Estate,
New Delhi-110001
New Delhi-110001
The implementation
of General Anti Avoidance Rules (GAAR) has been deferred by one year. GAAR will
now be applicable w.e.f. 1.4.2013.The Government had
set-up a Committee under the Chairmanship of Director General of Income Tax (International
Taxation) to frame draft guidelines in terms of Section 101 of Income Tax Act, 1961.
Draft guidelines have since been finalized together with the forms. Some
illustrations have also been provided to clarify the GAAR provisions.
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