Assocham fears new anti-evasion proposals may be used to harass taxpayers
Industry chamber Assocham has opposed the anti-tax evasion proposals suggested in the budget, including having retrospective laws and giving wide discretionary powers to tax officials. Assocham said issuing broad General Anti-Avoidance Rule (GAAR) — targeted at cases like the Vodafone-Hutch deal — without fine-print and safeguards is a recipe for disaster and may be used […]