Author: AB Wire

AB Wire stories are filed by American Bazaar staff writers and contributors. If you want to contact one of our reporters, feel free to email editor@americanbazaaronline.com

Controversial General Anti Avoidance Rules sought to empower taxmen to clamp down on deals and income suspected to have been structured only to avoid paying taxes. Having considered all the circumstances and relevant factors, the government has decided that provisions of Chapter 10A of the Income Tax Act (that deals with GAAR) will come into force from April 1, 2016 instead of April 1, 2014,” finance minister P Chidambaram told reporters. Read the full report at The Hindustan times.

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Dr. Reddy’s, Sun Pharma amongst top global companies to shape growth, according to a new study. The top 100 fast-globalising companies from rapidly developing economies are outpacing their rivals from developed economies in terms of expansion, job creation and productivity, said the Boston Consulting Group (BCG) study. Read the full report at The Economic Times.

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