Friday, 29 June 2012

Download Draft General Anti-Avoidance Rules (GAAR) Guidelines

Vide letter dated 28.06.2012, the Director General of Income-tax has issued draft guidelines in respect of the General Anti-Avoidance Rules (GAAR). GAAR is scheduled to become applicable w.e.f. 1.4.2013. The guidelines contain illustrations to explain how the GAAR provisions will apply together the draft of the forms required to be filled in. Comments can be forwarded till 20.07.2012

Download GAAR Draft Guidelines dated 28.06.2012

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Supreme Court ruling holds non-compete fee is allowable as revenue expenditure

  The Hon’ble Supreme Court settled the long-standing controversy surrounding the tax treatment of non-compete fees and, based on the facts ...