GAAR Deferred by Two Years

The Finance Minister also announced deferment of the General Anti Avoidance Rule (GAAR) by two years to accelerate the momentum of investment sentiment in the country, which he said, has turned positive now. Further, to facilitate technology inflow to small businesses at low costs, the rate of income tax on royalty and fees for technical services is to be reduced from 25% to 10%. Another step for boosting employment opportunities announced is that all business entities will be eligible for the benefit of deduction for employment of new regular workmen of 50 rather than 100 employees.

Source : Equity Bulls

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