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The Government is open to providing guidance to offshore funds on the critical issue of general anti-avoidance rules (GAAR), Hasmukh Adhia, Revenue Secretary, has said.
GAAR is definitely coming from April 1, 2017, and if need be guidance could be provided to offshore funds on this front, Adhia said at the 4th Annual Conclave of the Indian Private Equity and Venture Capital Association (IVCA) here on Thursday.
Adhia also highlighted that the place of effective management (POEM) framework will come into effect from April 1, 2017.
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