GAAR meaning in Indian Government ?

Answer:

What is General Anti-Avoidance Rule mean?

General anti-avoidance rule (GAAR) is an anti-tax avoidance law under Chapter X-A of the Income Tax Act, 1961 of India. It is framed by the Department of Revenue under the Ministry of Finance. GAAR was originally proposed in the Direct Tax Code 2009 and was targeted at arrangements or transactions made specifically to avoid taxes. GAAR provisions were also present in the Direct Tax Code 2010 and Direct Tax Code 2013. However, the Direct Tax Code did not see the light of the day and was not implemented in India. GAAR was finally introduced in India by then Finance Minister, Pranab Mukherjee, on 16 March 2012 during the Budget session introduced vide Finance Act, 2012. However, it was considered controversial because it had provisions to seek taxes from past overseas deals involving local assets retrospectively .

During the 2015 Budget presentation, Finance Minister Arun Jaitley announced that its implementation will be delayed by 2 years. GAAR is finally applicable from assessment year 2018-19.

reference

Full Form	Category
Greater Albuquerque Association of REALTORS	Business
General Anti Avoidance Rules	Business
General Anti Avoidence Rule	Business
General Anti Acceptance Rule	Business
General Anti Abuse Rule	Business
Greater Augusta Association of Realtors	Community
Great Ames Adventure Race	General
Guardian Angel Animal Rescue	General
Govt Anti Avoidance Rules	General
General Anti-Abuse Rule (UK)	Governmental
General Anti-Avoidance Rule	Indian Government