Companies undergoing restructuring attract taxman's gaze
The tax department is of the view that a Gujarat-based group did a restructuring merely to escape taxes.
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Concerns arise as taxman invokes GAAR to question domestic deals
Transactions that have attracted GAAR often include merging a loss-making company with a profitable group entity, thereby enabling the latter to take advantage of losses of the transferor company.
Reporting of GST, GAAR details in tax audit report deferred till Mar 2019
The Income-Tax Act requires prescribed persons to furnish the Tax Audit Report along with the prescribed particulars in Form No 3CD.
Budget 2017 will not postpone GAAR
GAAR will also override the provisions of tax treaties entered into by India with other countries. In fact, the recently signed protocol with Singapore explicitly mentioned a treaty override.
GAAR: No clarity on grandfathering for bonus shares
FIIs are worried that the tax department might send notices on bonus shares and convertible shares issued on the underlying security held before April 2017.
CBDT issues fresh notice on GAAR implementation
The latest clarifications say that if jurisdiction of a foreign portfolio investor is finalized based on non-tax commercial considerations and the main purpose of the arrangement is not to obtain tax benefit, GAAR will not apply.
GSK exploring merger, share swap with potential buyers
GSK had conducted an internal analysis involving tax experts in Europe and India and a handful of external tax consultants in UK to discover precise tax implications.
Foreign investors feel tremors of GAAR
What has surprised these investors and their legal advisors is the aggressive stance of the IT department even though the General Anti-Avoidance Rule.
FPI custodians, tax consultants in deadlock over GAAR liabilities
Both refuse to take onus of potential liabilities of clients under the new tax regime.
GAAR, POEM to come into effect from April 1: Government
"GAAR and POEM are here to stay... now there is no question of going back on it. GAAR has been postponed for last 5 years. We can't postpone it any more."
With safety belts in place, GAAR ready to take off on April 1
CBDT has put in place a two-stage approval process for initiating Gaar to ensure that the anti-abuse framework is implemented in a “fair and rational” manner.
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