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As per latest report, on Saturday a committee review the General Anti-Avoidance Rules (GAAR), Shome committee announced to give relief to the investors, raising Industry Inc by capital gains tax exemption on transfer of securities as well as the controversial tax regime be defer by three years .
In July, for GAAR tax avoidance recommendation designed to interfere company transactions and income structured, Centre had appointed the Parthasarathi Shome committee. In its report submit to finance
Twist on the PMO statement over GAAR considered when just few hours of announcing that Prime Minister Manmohan Singh was not considering the GAAR norms, a top finance ministry official confined only after the full consultation with PM, the guidelines will be finalized, according to source report.
Yesterday while going through with draft General Anti Avoidance Rule (GAAR) over the review of proposed tax recommendations, PMO issued a press release.
Recent over one of the most important General Anti-Avoidance Rules (GAAR) issue , a decision made by the government regarding postponement of GAAR by a year is likely to be a big relief for private equity (PE) and venture capital (VC) firms to structured themselves as per its provisions.
One best thing in GAAR is of its taxation provisions as per that the investor if get caught up in the Gaar non-compliance then he should pay the maximum tax upto 10%, not 20% and relaxed the norms for arrest of persons involved in violation of Customs Act.
This time while Indian stock market seems to be at the trouble, each time blinking with a quick up and down change in form of value of rupees against dollar, there are at least three issues that are related with Indian equities and necessary for investor.
First most is linked with the implications of the new general anti-avoidance rules (GAAR) for foreign institutional investors (FIIs).
There is a big hurdle for brokers even for FII that what should be the procedure of financial transaction from April 1 onwards as during the Budget revised norms, the income tax authorities “looking through” the P-note supplier and testing the tax residence of the end investors.
