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PM to ‘clarify’ Pranab’s tax measures

Taking charge of the Finance portfolio after the resignation of Pranab Mukherjee, Prime Minister Manmohan Singh has kindled hopes of a rethink on the controversial tax measures the departing Minister leaves behind. While the Finance Ministry maintained on Thursday that there were no plans to defer the roll-out of the General Anti-Avoidance Rules (GAAR) beyond April 1, 2013, it said it was committed to providing “clarifications” to the PMO within two or three weeks on tax matters, which have raised the hackles of industry ever since the budget was presented.

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