In an interview to NDTV Profit, Pallavi Bakhru, Partner & Practice Leader, Walker Chandiok & Co, said that the private equity (PE) funds covered under General Anti-Avoidance Rule (GAAR) may have to pay 20 per cent long-term capital gains tax. "PE players have requested for reducing the same and have demanded not to make GAAR applicable on exits from investments made over the past 10 years," she added.
