Implementation of GAAR and Tax treatment of investments - Decision within few weeks - PM
ADDRESSING an Award function for Corporate Excellence, the PM said yesterday,
Certain tax measures in the Budget led to a very negative reaction from investors. We addressed investor concerns by appointing the Partho Shome committee to look into the implementation of GAAR and the tax treatment of certain investments. We also appointed the Rangachary committee to examine tax related issues for the IT sector. The recommendations of both Committees have been received and are being examined by the Finance Ministry. We hope to announce decisions on all these issues within the next few weeks.