December 2012

The expert committee on GAAR (General Anti-Avoidance Rules) was constituted under the Chairmanship of Dr. Parthasarsthi Shome with members, namely Shri N. Rangachary (Former Chairman of IRDA and CBDT), Dr. Ajay Shah (Prof. NIPFP) and Shri Sunil Gupta (Joint Secretary-Tax Policy and Legislation, Department of Revenue) for undertaking the consultations of stakeholders and finalization of guidelines for GAAR. The main objective of the committee was to get feedbacks from the stakeholders and prepare new guidelines or to amend the previous guidelines after examining the things finely.The committee was constituted by the Central Board of Direct Taxes after being approved by the Prime Minister of India.

The committee formed referred to following terms:

• To receive feedback from both public and stakeholders on the Guideline of GAAR mentioned on the website of Government of India.

• To rework on the guidelines following the feedback received and examining the same and then publish the same in form of second draft

• To find out and finalise, guidelines along with an road-map for implementation of GAAR and submit it to the government

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