DMPQ- Explain why India introduced GAAR (General anti avoidance rules). Also mention the recommendations given by Parthasarathi Shome committee for GAAR.
Tax Avoidance is an area of concern across the world. The rules are framed in different countries to minimize such avoidance of tax. Such rules in simple terms are known as ‘General Anti Avoidance Rules’ or GAAR. Thus, GAAR is a set of general rules enacted so as to check the tax avoidance. It empowers … Read more DMPQ- Explain why India introduced GAAR (General anti avoidance rules). Also mention the recommendations given by Parthasarathi Shome committee for GAAR.