Double Taxation

Retrograde Announcements by F.M.

The announcements made by the Finance Minister in Parliament deferring the implementation of the General Anti-Avoidance Rules (GAAR) by one year and diluting many of its provisions is a meek surrender to finance capital, MNCs and the US administration. The US Treasury Secretary had personally lobbied with the Indian Finance Minister to revoke the GAAR, during the latter’s recent US visit in April 2012.

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