2014 · Q35
Which of the statements given below is/are correct?
- 1In India, the provisions of General Anti-Avoidance Rule (GAAR) will be implemented with effect from 1 April, 2015.
- 2The provision Of GAAR were aimed at checking tax avoidance by overseas investors.
Select the correct answer using the codes given below. Codes:
current-eventseconomy-news
- AOnly 1
- BOnly 2
- CBoth 1 and 2
- DNeither 1 nor 2
Explanation
As per the proposal then in force, GAAR was to roll out from 1 April 2015, and its provisions targeted tax avoidance including by overseas investors - both statements are correct.