Question 105

Indian Government is planning to introduce GAAR. What is the purpose of GAAR?

Solution

GAAR stands for General anti-avoidance rule. The rule was established under chapter X-A of Income tax act, 1961. The rule was enacted to curtail tax avoidance. Therefore, option E is the right answer.


Create a FREE account and get:

  • All Quant Formulas and shortcuts PDF
  • 15 XAT previous papers with solutions PDF
  • XAT Trial Classes for FREE

    cracku

    Boost your Prep!

    Download App