Need of more clarity on GAAR guidelines: Experts

Finance Secretary RS Gujral categorically shot down any speculation that the General Anti Avoidance Rules or GAAR will be deferred further or "dropped". The provisions will come into effect from April 1, 2013. In a chat with NDTV Profit's Prashant Nair, Balbir Singh, Partner, DSK Legal and TP Ostwal, TP Ostwal & Associates discuss the issue of GAAR. "FIIs are still skeptical of proposals in GAAR," said Oswal. In Singh's view, there needs to be more clarity on the timeline of investigation and 'substance' from the draft.