General Anti-Avoidance Rule(GAAR)

 

General Anti-Avoidance Rule (GAAR) is an Anti Tax Avoidance Regulation of  India introduced by then Finance Minister Pranab Mukerjee on March 16, 2012 during the Budget Session.

  

It was considered controversial because it had provisions to seek taxes from past overseas deals involving local assets retrospectly

During the 2015-16 Budget presentation, Finance Minister Arun Jaitley announced that its implementation will be delayed by 2 years