Edit this postA number of people will be cursing the originator of GAAR and will be calling them as perpetuators of a crime and we will analyse the requirement of GAAR which is an anti-avoidance measure and is a necessary evil in India.
India is having an environment of moderate rates of tax and experts are of the opinion that it becomes necessary to target the correct base who should be subjected to tax in the face of aggressive planning and use of opaque low or zero-tax havens for residence as well as for sourcing capital.
