GAAR should be deferred for 3 years minimum: Shome panel
The Shome committee recommends deferring General Anti Avoidance Rules (GAAR) for at least three years and abolish capital gains tax for all including foreign institutional investors. Experts, Rahul Garg, leader of direct tax at PWC India, and Sudhir Kapadia, national tax leader at Ernst & Young, highlight the key objectives of invoking GAAR.
