Comments on : Draft Guidelines for upcoming GAAR provisions

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Comments on Draft Guidelines for upcoming GAAR provisions

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Niraj K Shah

Wrote on 06 July 2012

Assocham president Mr Rajkumar Dhoot has urged government to postpone GAAR till 2015 in order to protect investor sentiments. In my view deferring GAAR is not the solution. Even if GAAR is delayed for 2-3 years fresh FII's wont invest for such short duration and FII's would consider to repatriate money back to their country within this 2-3 year span of time. Ideally the government should come out with a good scheme which may attract many FII's along with introduction of GAAR so that the effect of GAAR is balanced. The Scheme can be from FEMA or tax angle or both. What's the opinion of the rest of the members in the forum??