GAAR to be implemented from 2017-18: I-T Dept
The Income Tax Department on Friday said the provisions of the General Anti-Avoidance Rules (GAAR) will be effective from the financial year 2017-18. Earlier, Finance Minister Arun Jaitley had deferred the implementation of GAAR by two years in the 2015 Union Budget. GAAR is meant to reduce tax avoidance for investments made by entities based out of tax havens. 