Gaar – general anti – avoidance rules gbr

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Gaar – general anti – avoidance rules gbr

  1. 1. India has specific anti-avoidance provisionsengraved both in the domestic tax laws and insome of the tax treaties through the limitationof benefits clauses. However, in a bid to curbtax avoidance and enforce the concept ofsubstance over form, the Indian revenuepolicymakers propose the introduction of oneof the most significant contemporary taxreforms - the General Anti Avoidance Rules -"GAAR"
  2. 2. Tax Avoidance means the tax regimes legaluse for ones own personal advantage so as tolessen the tax amount that is payable to thegovernment by ways that are legal. Avoidance Tax includes situations whenpeople eliminate or reduce tax by following atransaction or many transactions that are legal.The income tax department provides manyprovisions through which the people can gofor Tax Avoidance such asrefunds, credits, benefits, and many otherkinds of entitlements.
  3. 3.  Legal entities Country of residence Double taxation

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