PRESS INFORMATION BUREAU GOVERNMENT OF INDIA
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CBDT INVITES COMMENTS/SUGGESTIONS ON DRAFT
GAAR GUIDELINES
New
Delhi: Ashadha 08, 1934
June
29, 2012
The
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, (International Taxation),
Range-1, 4th Floor, Room No. 402, Drum Shape Building, I.P Estate, 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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SM/SS/GN
To read the Draft Guideline on GAAR Click Here
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