This site uses cookies to provide you with a more responsive and personalized service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.

Bookmark Email Print this page

Draft India GAAR Guidelines and Examples

A new General Anti-Avoidance Rule ("GAAR") has been introduced by the Finance Act, 2012 and is applicable from 1 April 2013. In essence, GAAR empowers the tax authorities to invoke the "substance over form approach" in relation to any transaction. The law provides that GAAR shall be applied in accordance with the prescribed guidelines and conditions.

A Committee was constituted to provide recommendations for formulating the guidelines to be issued proper implementation of GAAR provisions. The Committee has released its recommendations for the guidelines to be made relating to implementation of GAAR. The Report of the Committee contains proposals for inclusion in the guidelines and examples explaining the applicability of GAAR in specified situations.

The tax alert provides details on those proposals for inclusion in the guidelines as well as examples explaining GAAR.

For additional information or questions, please contact:

Tom Butera
Tax Principal, International Tax
Deloitte Tax LLP
+1 212 436 3231

Rajesh Gandhi
Client Service Executive | India Desk
Deloitte Tax LLP
+1 212 436 2941

Share this page

Email this Send to LinkedIn Send to Facebook Tweet this More sharing options

Stay connected