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13 September 2019
In an attempt to curb tax evasion and avoid tax leakage, the government introduced the General Anti-avoidance Rule (GAAR), which took effect from 1 April 2017. By doing so, India became one of the many countries which have enacted the GAAR and implemented jurisprudence thereon in recent years.
The GAAR is seen as a tool to:
Following the introduction of the GAAR, businesses have had to revisit and revalidate their transactions. Further, as there are a number of potential issues that may be faced by taxpayers, they must observe the types of transaction that are likely to be affected.(1)
For further information on this topic please contact Pranay Bhatia at BDO in India by telephone (+91 22 6277 1600) or email (email@example.com). The BDO in India website can be accessed at www.bdo.in.
(1) A comprehensive overview of the GAAR is available here.
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