Uncertainties in tax policy should be minimised, at least in the short-term, and forward-looking changes be made only in the medium-term, said C Rangarajan, chairman of the Prime Minister's Economic Advisory Council. His comments came while the government is reviewing amendments to the Income Tax Act and the General Anti-Avoidance Rule ( GAAR). “The investor should be confident enough that no sharp changes are likely to be there at least during the implementation of the project,” Rangarajan said at a seminar on tax reforms and tax administration..........
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