CAPITAL GAINS TAX

  • GAAR should be applied intelligently: Panel head September 1, 2012

    New Delhi: The provisions of General Anti Tax Avoidance Rules (GAAR) should be 'intelligently' applied, said the Chairman of expert committee, Parthasarathi Shome, after submitting the draft report to Finance Ministry. "GAAR should be intelligently applied...some times there are areas of subjectivity so you limit them, truncate them and define them...
  • GAAR should be applied intelligently: Expert panel chairman September 1, 2012

    The provisions of General Anti Tax Avoidance Rules (GAAR) should be 'intelligently' applied, said the Chairman of Expert committee, Parthasarathi Shome, after submitting the draft report to the Finance Ministry. ...
  • Delay GAAR by 3 years: PMappointed panel September 1, 2012

    New Delhi: The Prime Ministerappointed Shome Committee on Saturday submitted its second draft General Anti Avoidance Rules (GAAR) recommendations to Finance Minister P Chidambaram, whereby he proposed delaying the implementation of GAAR by three years. The Committee, headed by Parthasarathi Shome, suggested abolishing Capital Gains Tax on listed securities and distinguishing...
  • SC dismisses Vodafone petition against IT notice January 23, 2009

    New Delhi: The Supreme Court has dismissed Vodafones petition against the Income Tax department. In a significant ruling the apex court asked why $2 billion should not be recovered from Vodafone. Vodafone was slapped with a tax bill of $2 billion by way of capital gains tax when it bought Hutch...