Clarifications on implementation of GAAR provisions under the Income Tax Act, 1961 Circular no. 7 0f 2017

The provisions of General Anti Avoidance Rule (GAAR) are contained in Chapter X-A of the Income Tax Act, 1961. The GAAR provisions shall be effective from assessment year 2018-19 onwards,
i.e. financial year 2017-18 onwards. CBDT Released 16 FAQ’s on GAAR.