General Anti-Avoidance Rule (GAAR) in Indian Economy: Concept, Features, Implementation, and Impact
Introduction Taxation plays a crucial role in the functioning of any economy. It finances government expenditure, enables public welfare, and shapes economic behavior. However, the effectiveness of a tax system is often undermined by tax avoidance and evasion. While tax evasion is illegal and punishable, tax avoidance refers to legal strategies employed by taxpayers to…